Rivernorth Capital Management LLC Buys New Stake in HCM Acquisition Corp $HCMA

Rivernorth Capital Management LLC purchased a new position in shares of HCM Acquisition Corp (NASDAQ:HCMA) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 199,996 shares of the company’s stock, valued at approximately $2,016,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Berkley W R Corp boosted its stake in HCM Acquisition by 34.4% in the first quarter. Berkley W R Corp now owns 388,407 shares of the company’s stock valued at $3,915,000 after acquiring an additional 99,480 shares in the last quarter. Galaxy Digital Inc. acquired a new stake in shares of HCM Acquisition during the first quarter worth about $1,008,000. DLD Asset Management LP increased its position in shares of HCM Acquisition by 19.0% during the first quarter. DLD Asset Management LP now owns 250,000 shares of the company’s stock worth $2,520,000 after purchasing an additional 40,000 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of HCM Acquisition in the 4th quarter valued at about $1,356,000. Finally, Alberta Investment Management Corp purchased a new stake in shares of HCM Acquisition in the 4th quarter valued at about $5,533,000. 11.79% of the stock is owned by hedge funds and other institutional investors.

HCM Acquisition Stock Performance

Shares of HCMA opened at $10.30 on Thursday. The company’s 50 day simple moving average is $10.28 and its 200-day simple moving average is $10.18. HCM Acquisition Corp has a 12-month low of $10.03 and a 12-month high of $10.49.

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

Analyst Upgrades and Downgrades

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