HCM Acquisition (NASDAQ:HCMA) Posts Quarterly Earnings Results

HCM Acquisition (NASDAQ:HCMA) released its earnings results on Friday. The company reported $0.05 earnings per share (EPS) for the quarter, FiscalAI reports.

HCM Acquisition Stock Up 0.4%

HCM Acquisition stock traded up $0.04 during midday trading on Friday, hitting $10.32. 32,908 shares of the company were exchanged, compared to its average volume of 44,215. The business has a fifty day simple moving average of $10.29 and a two-hundred day simple moving average of $10.20. HCM Acquisition has a fifty-two week low of $10.03 and a fifty-two week high of $10.49.

Institutional Investors Weigh In On HCM Acquisition

Several hedge funds have recently bought and sold shares of HCMA. PenderFund Capital Management Ltd. purchased a new position in HCM Acquisition during the fourth quarter worth approximately $72,000. Fort Baker Capital Management LP acquired a new stake in shares of HCM Acquisition in the 3rd quarter worth $101,000. ABC Arbitrage SA purchased a new position in shares of HCM Acquisition during the 4th quarter worth $201,000. Millennium Management LLC purchased a new position in shares of HCM Acquisition during the 3rd quarter worth $202,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of HCM Acquisition during the 3rd quarter valued at about $251,000. Hedge funds and other institutional investors own 11.79% of the company’s stock.

Wall Street Analyst Weigh In

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

HCM Acquisition Company Profile

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.