HCM Acquisition (NASDAQ:HCMA) Shares Down 0.1% – Time to Sell?

HCM Acquisition Corp (NASDAQ:HCMA)’s stock price dropped 0.1% during mid-day trading on Friday . The stock traded as low as $10.29 and last traded at $10.3050. Approximately 3,713 shares traded hands during trading, a decline of 92% from the average daily volume of 45,112 shares. The stock had previously closed at $10.32.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of HCM Acquisition in a research note on Thursday, August 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, HCM Acquisition has an average rating of “Sell”.

HCM Acquisition Trading Down 0.1%

The business has a 50-day moving average price of $10.30 and a 200-day moving average price of $10.22.

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

Hedge Funds Weigh In On HCM Acquisition

Hedge funds and other institutional investors have recently made changes to their positions in the business. Meteora Capital LLC bought a new stake in HCM Acquisition in the third quarter valued at about $16,587,000. Verition Fund Management LLC bought a new position in HCM Acquisition during the third quarter worth about $11,617,000. MMCAP International Inc. SPC bought a new position in HCM Acquisition during the fourth quarter worth about $10,040,000. Governors Lane LP boosted its holdings in HCM Acquisition by 25.0% during the fourth quarter. Governors Lane LP now owns 1,000,000 shares of the company’s stock valued at $10,040,000 after purchasing an additional 200,000 shares in the last quarter. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in HCM Acquisition during the third quarter valued at approximately $10,105,000. 11.79% of the stock is owned by institutional investors.

HCM Acquisition Company Profile

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.