HCM Acquisition Corp (NASDAQ:HCMA) Short Interest Update

HCM Acquisition Corp (NASDAQ:HCMA) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 1,948 shares, a decline of 69.3% from the June 15th total of 6,344 shares. Based on an average daily volume of 16,605 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s shares are short sold.

HCM Acquisition Stock Performance

Shares of NASDAQ:HCMA traded down $0.01 during midday trading on Friday, hitting $10.31. 437 shares of the stock traded hands, compared to its average volume of 46,702. The business’s 50 day moving average is $10.24 and its two-hundred day moving average is $10.16. HCM Acquisition has a one year low of $10.03 and a one year high of $10.49.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of HCM Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, HCM Acquisition currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On HCM Acquisition

Several hedge funds have recently made changes to their positions in HCMA. PenderFund Capital Management Ltd. bought a new position in shares of HCM Acquisition during the fourth quarter valued at approximately $72,000. Fort Baker Capital Management LP bought a new stake in HCM Acquisition in the third quarter valued at $101,000. ABC Arbitrage SA bought a new stake in HCM Acquisition in the fourth quarter valued at $201,000. Millennium Management LLC purchased a new position in HCM Acquisition during the 3rd quarter valued at $202,000. Finally, JPMorgan Chase & Co. purchased a new position in HCM Acquisition during the 3rd quarter valued at $251,000. 11.79% of the stock is owned by hedge funds and other institutional investors.

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.