HCM Acquisition (NASDAQ:HCMA) Posts Earnings Results

HCM Acquisition (NASDAQ:HCMA) announced its quarterly earnings data on Friday. The company reported $0.07 earnings per share for the quarter, FiscalAI reports.

HCM Acquisition Trading Up 0.1%

Shares of NASDAQ HCMA traded up $0.01 during midday trading on Friday, reaching $10.35. The company had a trading volume of 58,525 shares, compared to its average volume of 54,882. HCM Acquisition has a one year low of $10.03 and a one year high of $10.35. The firm’s fifty day moving average price is $10.31 and its 200-day moving average price is $10.23.

Hedge Funds Weigh In On HCM Acquisition

Institutional investors and hedge funds have recently bought and sold shares of the stock. RLH Capital LLC purchased a new position in HCM Acquisition in the 3rd quarter worth approximately $515,000. StoneX Group Inc. purchased a new stake in shares of HCM Acquisition during the third quarter valued at approximately $519,000. Readystate Asset Management LP purchased a new stake in shares of HCM Acquisition during the first quarter valued at approximately $541,000. Galaxy Digital Inc. bought a new position in shares of HCM Acquisition in the first quarter worth approximately $1,008,000. Finally, Rivernorth Capital Management LLC bought a new position in shares of HCM Acquisition in the first quarter worth approximately $2,016,000. 11.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

HCM Acquisition Company Profile

HCM Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands. It was formed to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more businesses. At its formation, the company said it would focus its search on businesses in Asia, including companies with connections to China. Its stated areas of interest included technology, media and telecommunications, healthcare, consumer products, and education. HCM Acquisition Corp. does not have operating products or services of its own; its business is identifying and completing a transaction with a target company.