HCM Acquisition (NASDAQ:HCMA) Shares Up 0.1% – Time to Buy?

Shares of HCM Acquisition Corp (NASDAQ:HCMA) rose 0.1% during trading on Monday. The company traded as high as $10.30 and last traded at $10.30. Approximately 10,216 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 43,991 shares. The stock had previously closed at $10.29.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of HCM Acquisition in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

HCM Acquisition Price Performance

The company has a 50-day moving average of $10.30 and a 200-day moving average of $10.24.

HCM Acquisition (NASDAQ:HCMA) last announced its earnings results on Friday, August 14th. The company reported $0.05 EPS for the quarter.

Institutional Trading of HCM Acquisition

A number of institutional investors have recently modified their holdings of HCMA. DLD Asset Management LP grew its stake in HCM Acquisition by 19.0% in the first quarter. DLD Asset Management LP now owns 250,000 shares of the company’s stock valued at $2,520,000 after purchasing an additional 40,000 shares in the last quarter. Readystate Asset Management LP bought a new position in shares of HCM Acquisition in the first quarter valued at $541,000. Berkley W R Corp increased its holdings in HCM Acquisition by 34.4% during the first quarter. Berkley W R Corp now owns 388,407 shares of the company’s stock worth $3,915,000 after buying an additional 99,480 shares during the last quarter. Galaxy Digital Inc. acquired a new position in HCM Acquisition during the first quarter worth $1,008,000. Finally, Radcliffe Capital Management L.P. raised its position in HCM Acquisition by 21.7% during the fourth quarter. Radcliffe Capital Management L.P. now owns 700,000 shares of the company’s stock worth $7,028,000 after acquiring an additional 125,000 shares in the last quarter. 11.79% of the stock is currently owned by institutional investors.

HCM Acquisition Company Profile

HCM Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Rather than producing goods or providing services directly, the company was established to raise capital through an initial public offering and use those proceeds, along with other financing, to acquire or merge with a target business.

As a blank-check company, HCM Acquisition’s activities have primarily involved evaluating potential acquisition opportunities, conducting due diligence and negotiating transaction terms.