HCM Acquisition Corp (NASDAQ:HCMA) Short Interest Update

HCM Acquisition Corp (NASDAQ:HCMA) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 2,008 shares, a drop of 73.8% from the April 30th total of 7,655 shares. Based on an average daily trading volume, of 3,466 shares, the short-interest ratio is currently 0.6 days. Approximately 0.0% of the company’s shares are short sold.

Institutional Investors Weigh In On HCM Acquisition

Several hedge funds have recently modified their holdings of the stock. Readystate Asset Management LP purchased a new stake in shares of HCM Acquisition during the 1st quarter valued at about $541,000. Rivernorth Capital Management LLC purchased a new stake in shares of HCM Acquisition during the 1st quarter valued at about $2,016,000. Berkley W R Corp raised its holdings in shares of HCM Acquisition by 34.4% during the 1st quarter. Berkley W R Corp now owns 388,407 shares of the company’s stock valued at $3,915,000 after buying an additional 99,480 shares during the period. Galaxy Digital Inc. purchased a new stake in shares of HCM Acquisition during the 1st quarter valued at about $1,008,000. Finally, DLD Asset Management LP raised its holdings in shares of HCM Acquisition by 19.0% during the 1st quarter. DLD Asset Management LP now owns 250,000 shares of the company’s stock valued at $2,520,000 after buying an additional 40,000 shares during the period. 11.79% of the stock is currently owned by hedge funds and other institutional investors.

HCM Acquisition Stock Performance

Shares of NASDAQ HCMA traded up $0.02 during midday trading on Friday, hitting $10.27. The stock had a trading volume of 468,373 shares, compared to its average volume of 47,667. HCM Acquisition has a 1-year low of $10.03 and a 1-year high of $10.49. The company has a fifty day moving average price of $10.14 and a 200 day moving average price of $10.13.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of HCM Acquisition in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.