Short Interest in HCM Acquisition Corp (NASDAQ:HCMA) Declines By 69.3%

HCM Acquisition Corp (NASDAQ:HCMA) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 1,948 shares, a decrease of 69.3% from the June 15th total of 6,344 shares. Based on an average daily volume of 16,605 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Berkley W R Corp acquired a new stake in shares of HCM Acquisition during the 3rd quarter worth approximately $2,681,000. Clear Street Group Inc. acquired a new position in shares of HCM Acquisition in the 3rd quarter valued at $2,736,000. Linden Advisors LP acquired a new position in shares of HCM Acquisition in the 3rd quarter valued at $10,100,000. Boothbay Fund Management LLC purchased a new stake in HCM Acquisition during the third quarter worth $3,019,000. Finally, Radcliffe Capital Management L.P. purchased a new stake in HCM Acquisition during the third quarter worth $5,810,000. 11.79% of the stock is owned by institutional investors and hedge funds.

HCM Acquisition Stock Down 0.2%

Shares of NASDAQ:HCMA traded down $0.02 during trading on Monday, reaching $10.30. The stock had a trading volume of 437 shares, compared to its average volume of 46,702. The firm’s 50-day simple moving average is $10.24 and its 200 day simple moving average is $10.16. HCM Acquisition has a one year low of $10.03 and a one year high of $10.49.

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

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of 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, HCM Acquisition presently 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.