HCM Acquisition Corp (NASDAQ:HCMA) Sees Significant Drop in Short Interest

HCM Acquisition Corp (NASDAQ:HCMA) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 2,008 shares, a decline of 73.8% from the April 30th total of 7,655 shares. Based on an average trading volume of 3,466 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.0% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of HCM Acquisition in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

HCM Acquisition Stock Up 0.2%

NASDAQ:HCMA traded up $0.02 during midday trading on Friday, hitting $10.27. The stock had a trading volume of 468,373 shares, compared to its average volume of 47,666. HCM Acquisition has a one year low of $10.03 and a one year high of $10.49. The stock has a 50-day moving average of $10.13 and a 200 day moving average of $10.13.

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

Institutional Trading of HCM Acquisition

Hedge funds have recently bought and sold shares of the stock. PenderFund Capital Management Ltd. purchased a new stake in HCM Acquisition during the fourth quarter worth $72,000. Fort Baker Capital Management LP purchased a new stake in shares of HCM Acquisition during the 3rd quarter valued at $101,000. DLD Asset Management LP purchased a new stake in shares of HCM Acquisition during the 3rd quarter valued at $104,000. ABC Arbitrage SA purchased a new stake in shares of HCM Acquisition during the 4th quarter valued at $201,000. Finally, Millennium Management LLC purchased a new stake in shares of HCM Acquisition during the 3rd quarter valued at $202,000. Hedge funds and other institutional investors own 11.79% of the company’s stock.

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.