HCM II Acquisition Sees Unusually Large Options Volume (NASDAQ:HOND)

HCM II Acquisition Corp. (NASDAQ:HOND) was the target of unusually large options trading on Friday. Stock investors purchased 7,482 call options on the company. This represents an increase of approximately 99% compared to the typical volume of 3,754 call options.

Hedge Funds Weigh In On HCM II Acquisition

A number of institutional investors and hedge funds have recently bought and sold shares of HOND. Calamos Advisors LLC purchased a new position in HCM II Acquisition in the 1st quarter worth approximately $5,288,000. Context Capital Management LLC purchased a new position in HCM II Acquisition in the 1st quarter worth approximately $3,156,000. Mizuho Securities USA LLC purchased a new position in HCM II Acquisition in the 1st quarter worth approximately $271,000. MMCAP International Inc. SPC purchased a new position in HCM II Acquisition in the 1st quarter worth approximately $10,310,000. Finally, Magnetar Financial LLC purchased a new position in HCM II Acquisition in the 1st quarter worth approximately $20,719,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of HCM II Acquisition in a report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

HCM II Acquisition Trading Up 4.4%

Shares of NASDAQ:HOND opened at $18.86 on Friday. HCM II Acquisition has a 1 year low of $9.96 and a 1 year high of $20.55. The stock has a 50-day simple moving average of $13.17 and a 200-day simple moving average of $11.80.

About HCM II Acquisition

HCM II Acquisition Corp. operates as a blank check company. It was formed for the purpose of entering into a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded on April 4, 2024 and is headquartered in Stamford, CT.