Short Interest in HCM Acquisition Corp (NASDAQ:HCMA) Grows By 455.0%

HCM Acquisition Corp (NASDAQ:HCMA – Get Free Report) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 6,344 shares, an increase of 455.0% from the May 31st total of 1,143 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 71,852 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

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

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Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HCMA. Meteora Capital LLC acquired a new stake in shares of HCM Acquisition during the third quarter valued at about $16,587,000. Verition Fund Management LLC purchased a new stake in shares of HCM Acquisition in the 3rd quarter valued at $11,617,000. Linden Advisors LP purchased a new stake in shares of HCM Acquisition in the 3rd quarter valued at $10,100,000. MMCAP International Inc. SPC acquired a new position in HCM Acquisition during the 4th quarter worth about $10,040,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in HCM Acquisition during the 3rd quarter valued at about $10,105,000. Institutional investors and hedge funds own 11.79% of the company’s stock.

HCM Acquisition Stock Up 0.1%

Shares of NASDAQ HCMA traded up $0.01 during midday trading on Friday, reaching $10.29. 13,108 shares of the stock were exchanged, compared to its average volume of 49,093. The company has a 50 day simple moving average of $10.21 and a 200 day simple moving average of $10.15. HCM Acquisition has a twelve month low of $10.03 and a twelve month high of $10.49.

HCM Acquisition (NASDAQ:HCMA – Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter.

About HCM Acquisition

(Get Free Report)

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.

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