HCM Acquisition (NASDAQ:HCMA) Posts Earnings Results

HCM Acquisition (NASDAQ:HCMA) announced its quarterly earnings data on Friday. The company reported $0.07 EPS for the quarter, FiscalAI reports.

HCM Acquisition Trading Up 0.1%

HCM Acquisition stock traded up $0.01 on Friday, hitting $10.35. The company’s stock had a trading volume of 58,525 shares, compared to its average volume of 54,882. HCM Acquisition has a one year low of $10.03 and a one year high of $10.35. The company has a fifty day moving average price of $10.31 and a 200-day moving average price of $10.23.

Institutional Trading of HCM Acquisition

Several institutional investors have recently made changes to their positions in HCMA. Periscope Capital Inc. acquired a new position in HCM Acquisition in the third quarter worth about $4,534,000. Berkley W R Corp grew its stake in shares of HCM Acquisition by 34.4% in the 1st quarter. Berkley W R Corp now owns 388,407 shares of the company’s stock valued at $3,915,000 after purchasing an additional 99,480 shares during the period. DLD Asset Management LP grew its stake in shares of HCM Acquisition by 19.0% in the 1st quarter. DLD Asset Management LP now owns 250,000 shares of the company’s stock valued at $2,520,000 after purchasing an additional 40,000 shares during the period. Rivernorth Capital Management LLC acquired a new position in shares of HCM Acquisition in the 1st quarter worth approximately $2,016,000. Finally, Galaxy Digital Inc. acquired a new position in shares of HCM Acquisition in the 1st quarter worth approximately $1,008,000. 11.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of HCM Acquisition in a research note on Thursday, August 27th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, HCM Acquisition currently has a consensus rating of “Sell”.

About HCM Acquisition

HCM Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands. It was formed to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more businesses. At its formation, the company said it would focus its search on businesses in Asia, including companies with connections to China. Its stated areas of interest included technology, media and telecommunications, healthcare, consumer products, and education. HCM Acquisition Corp. does not have operating products or services of its own; its business is identifying and completing a transaction with a target company.