HCM Acquisition (NASDAQ:HCMA) Stock Price Down 0.3% – Here’s Why

HCM Acquisition Corp (NASDAQ:HCMA) shares were down 0.3% during trading on Thursday . The company traded as low as $10.27 and last traded at $10.27. Approximately 12 shares changed hands during trading, a decline of 100% from the average daily volume of 43,928 shares. The stock had previously closed at $10.30.

Analyst Upgrades and Downgrades

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 data from MarketBeat.com, HCM Acquisition presently has a consensus rating of “Sell”.

HCM Acquisition Stock Performance

The stock’s fifty day moving average is $10.30 and its 200 day moving average is $10.20.

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

Institutional Trading of HCM Acquisition

Several large investors have recently modified their holdings of the business. Meteora Capital LLC bought a new position in HCM Acquisition during the 3rd quarter valued at approximately $16,587,000. Verition Fund Management LLC purchased a new position in shares of HCM Acquisition during the third quarter valued at approximately $11,617,000. MMCAP International Inc. SPC purchased a new position in shares of HCM Acquisition during the fourth quarter valued at approximately $10,040,000. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in shares of HCM Acquisition during the third quarter valued at approximately $10,105,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of HCM Acquisition during the fourth quarter valued at approximately $10,060,000. 11.79% of the stock is owned by 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.