HCM Acquisition (NASDAQ:HCMA) Posts Earnings Results

HCM Acquisition (NASDAQ:HCMA) announced its quarterly earnings data on Thursday. The company reported $0.05 earnings per share for the quarter, FiscalAI reports.

HCM Acquisition Stock Down 0.0%

NASDAQ:HCMA traded down $0.01 during trading hours on Friday, reaching $10.15. 300 shares of the company’s stock were exchanged, compared to its average volume of 40,707. The company has a 50-day moving average of $10.12 and a 200 day moving average of $10.14. HCM Acquisition has a 1-year low of $10.03 and a 1-year high of $10.49.

Institutional Trading of HCM Acquisition

Several hedge funds have recently made changes to their positions in HCMA. Meteora Capital LLC purchased a new position in shares of HCM Acquisition in the 3rd quarter valued at about $16,587,000. Verition Fund Management LLC purchased a new position in shares of HCM Acquisition in the 3rd quarter valued at about $11,617,000. Linden Advisors LP purchased a new position in shares of HCM Acquisition in the 3rd quarter valued at about $10,100,000. Highbridge Capital Management LLC purchased a new position in shares of HCM Acquisition in the 3rd quarter valued at about $10,100,000. Finally, MMCAP International Inc. SPC purchased a new position in shares of HCM Acquisition in the 4th quarter valued at about $10,040,000. Institutional investors and hedge funds own 11.79% of the company’s stock.

Analyst Ratings Changes

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