HCM Acquisition (NASDAQ:HCMA) Issues Earnings Results

HCM Acquisition (NASDAQ:HCMA) released its quarterly earnings results on Friday. The company reported $0.05 EPS for the quarter, FiscalAI reports.

HCM Acquisition Price Performance

NASDAQ HCMA traded up $0.03 on Friday, hitting $10.30. The company had a trading volume of 10 shares, compared to its average volume of 44,303. The company’s fifty day moving average price is $10.29 and its 200-day moving average price is $10.20. HCM Acquisition has a 12-month low of $10.03 and a 12-month high of $10.49.

Institutional Trading of HCM Acquisition

A number of institutional investors and hedge funds have recently modified their holdings of HCMA. PenderFund Capital Management Ltd. purchased a new position in HCM Acquisition in the 4th quarter valued at about $72,000. Fort Baker Capital Management LP purchased a new position in shares of HCM Acquisition in the third quarter valued at approximately $101,000. ABC Arbitrage SA purchased a new position in shares of HCM Acquisition in the fourth quarter valued at approximately $201,000. Millennium Management LLC acquired a new stake in shares of HCM Acquisition in the third quarter worth approximately $202,000. Finally, JPMorgan Chase & Co. purchased a new position in HCM Acquisition in the 3rd quarter valued at $251,000. Hedge funds and other institutional investors own 11.79% of the company’s stock.

Wall Street Analysts Forecast Growth

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 investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.