Short Interest in HCM Acquisition Corp (NASDAQ:HCMA) Expands By 455.0%

HCM Acquisition Corp (NASDAQ:HCMA) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totaling 6,344 shares, a growth of 455.0% from the May 31st total of 1,143 shares. Based on an average daily volume of 71,852 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of HCM Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, HCM Acquisition has an average rating of “Sell”.

HCM Acquisition Stock Up 0.1%

NASDAQ HCMA traded up $0.01 during trading hours on Friday, reaching $10.29. The company’s stock had a trading volume of 13,103 shares, compared to its average volume of 49,093. The firm’s 50-day moving average price is $10.20 and its 200-day moving average price is $10.15. HCM Acquisition has a 1 year low of $10.03 and a 1 year high of $10.49.

HCM Acquisition (NASDAQ:HCMA) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter.

Hedge Funds Weigh In On HCM Acquisition

Several institutional investors have recently bought and sold shares of HCMA. PenderFund Capital Management Ltd. bought a new stake in HCM Acquisition in the 4th quarter valued at $72,000. Fort Baker Capital Management LP bought a new position in shares of HCM Acquisition during the 3rd quarter valued at about $101,000. DLD Asset Management LP bought a new position in shares of HCM Acquisition during the 3rd quarter valued at about $104,000. Glazer Capital LLC grew its position in shares of HCM Acquisition by 5.9% during the fourth quarter. Glazer Capital LLC now owns 317,835 shares of the company’s stock valued at $3,191,000 after purchasing an additional 17,835 shares in the last quarter. Finally, ABC Arbitrage SA purchased a new position in shares of HCM Acquisition during the fourth quarter valued at about $201,000. 11.79% of the stock is owned by hedge funds and other institutional investors.

About HCM Acquisition

HCM Acquisition Corp. is a Delaware‐incorporated special purpose acquisition company (SPAC) that was formed to identify and complete a business combination with one or more target businesses. The company raised capital through its initial public offering and is listed on the Nasdaq under the ticker HCMA. As a blank check vehicle, HCM Acquisition holds its funds in trust until it consummates a qualifying merger, share exchange, asset acquisition or other business combination.

The SPAC is sponsored by affiliates of Healthcare Capital Management LLC, a Los Angeles‐based investment firm with experience in healthcare and life sciences investing.