HCM Acquisition (NASDAQ:HCMA) Posts Earnings Results

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

HCM Acquisition Trading Up 0.4%

Shares of NASDAQ:HCMA opened at $10.32 on Friday. HCM Acquisition has a one year low of $10.03 and a one year high of $10.49. The business’s fifty day moving average price is $10.29 and its two-hundred day moving average price is $10.20.

Institutional Investors Weigh In On HCM Acquisition

Several hedge funds have recently modified their holdings of the company. PenderFund Capital Management Ltd. acquired a new stake in HCM Acquisition during the fourth quarter worth approximately $72,000. Fort Baker Capital Management LP acquired a new stake in shares of HCM Acquisition during the third quarter worth $101,000. ABC Arbitrage SA acquired a new stake in shares of HCM Acquisition during the fourth quarter worth $201,000. Millennium Management LLC purchased a new stake in shares of HCM Acquisition in the third quarter valued at $202,000. Finally, JPMorgan Chase & Co. acquired a new position in HCM Acquisition in the third quarter valued at $251,000. 11.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of HCM Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

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.