HCM Acquisition (NASDAQ:HCMA) Shares Up 0.2% – Here’s What Happened

HCM Acquisition Corp (NASDAQ:HCMA) shares traded up 0.2% during mid-day trading on Monday . The company traded as high as $10.20 and last traded at $10.20. 452,198 shares traded hands during mid-day trading, an increase of 329% from the average session volume of 105,417 shares. The stock had previously closed at $10.18.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e)” rating on shares of HCM Acquisition in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

HCM Acquisition Stock Up 0.2%

The firm has a 50 day moving average price of $10.11 and a 200 day moving average price of $8.89.

Hedge Funds Weigh In On HCM Acquisition

Hedge funds have recently bought and sold shares of the company. Fort Baker Capital Management LP bought a new stake in shares of HCM Acquisition in the 3rd quarter worth $101,000. DLD Asset Management LP purchased a new position in HCM Acquisition during the third quarter worth about $104,000. ABC Arbitrage SA bought a new stake in HCM Acquisition in the 4th quarter worth about $201,000. Millennium Management LLC purchased a new stake in HCM Acquisition in the 3rd quarter valued at about $202,000. Finally, JPMorgan Chase & Co. bought a new position in shares of HCM Acquisition during the 3rd quarter worth approximately $251,000. 11.79% of the stock is owned by hedge funds and other 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.