Context Capital Management LLC Sells 166,666 Shares of HCM Acquisition Corp $HCMA

Context Capital Management LLC lessened its stake in shares of HCM Acquisition Corp (NASDAQ:HCMA) by 25.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the company’s stock after selling 166,666 shares during the quarter. Context Capital Management LLC owned approximately 3.54% of HCM Acquisition worth $5,150,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. StoneX Group Inc. bought a new stake in shares of HCM Acquisition in the 3rd quarter valued at about $519,000. Readystate Asset Management LP acquired a new stake in HCM Acquisition in the first quarter valued at approximately $541,000. Galaxy Digital Inc. acquired a new stake in HCM Acquisition in the first quarter valued at approximately $1,008,000. Rivernorth Capital Management LLC purchased a new position in HCM Acquisition in the first quarter worth $2,016,000. Finally, 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. Hedge funds and other institutional investors own 11.79% of the company’s stock.

HCM Acquisition Price Performance

Shares of NASDAQ HCMA opened at $10.34 on Wednesday. The business has a 50-day simple moving average of $10.31 and a two-hundred day simple moving average of $10.23. HCM Acquisition Corp has a fifty-two week low of $10.03 and a fifty-two week high of $10.35.

HCM Acquisition (NASDAQ:HCMA) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.05 earnings per share (EPS) for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of HCM Acquisition in a report on Thursday, August 27th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

HCM Acquisition Profile

HCM Acquisition Corp. (NASDAQ: HCMA) was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating businesses. Its potential transactions could have included a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar corporate combination. As a SPAC, HCM Acquisition did not operate a commercial business or offer its own products and services before completing a transaction. Instead, its activities centered on raising capital through a public offering, evaluating acquisition opportunities and seeking shareholder approval for a proposed combination.