HCM Acquisition (NASDAQ:HCMA) Posts Earnings Results

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

HCM Acquisition Price Performance

Shares of HCMA stock traded up $0.01 during midday trading on Friday, reaching $10.35. 58,525 shares of the company traded hands, compared to its average volume of 54,882. The firm’s 50 day simple moving average is $10.31 and its two-hundred day simple moving average is $10.23. HCM Acquisition has a 1-year low of $10.03 and a 1-year high of $10.35.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of HCM Acquisition in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, HCM Acquisition presently has an average rating of “Sell”.

Institutional Investors Weigh In On HCM Acquisition

A number of institutional investors and hedge funds have recently modified their holdings of HCMA. DLD Asset Management LP boosted its position in 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. RLH Capital LLC acquired a new stake in HCM Acquisition in the third quarter valued at $515,000. StoneX Group Inc. acquired a new stake in HCM Acquisition in the third quarter valued at $519,000. Readystate Asset Management LP purchased a new stake in shares of HCM Acquisition in the 1st quarter worth about $541,000. Finally, Berkley W R Corp boosted its position in shares of HCM Acquisition by 34.4% in the 1st quarter. Berkley W R Corp now owns 388,407 shares of the company’s stock worth $3,915,000 after buying an additional 99,480 shares in the last quarter. Institutional investors and hedge funds own 11.79% of the company’s stock.

About HCM Acquisition

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.