HCM Acquisition Corp (NASDAQ:HCMA) Short Interest Update

HCM Acquisition Corp (NASDAQ:HCMA) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 6,344 shares, an increase of 455.0% from the May 31st total of 1,143 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 71,852 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On HCM Acquisition

Hedge funds and other institutional investors have recently modified their holdings of the stock. PenderFund Capital Management Ltd. purchased a new position in HCM Acquisition during the fourth quarter valued at $72,000. Fort Baker Capital Management LP purchased a new stake in HCM Acquisition in the third quarter worth about $101,000. DLD Asset Management LP bought a new position in shares of HCM Acquisition in the third quarter worth about $104,000. ABC Arbitrage SA bought a new position in shares of HCM Acquisition in the fourth quarter worth about $201,000. Finally, Millennium Management LLC purchased a new position in shares of HCM Acquisition during the 3rd quarter valued at about $202,000. 11.79% of the stock is currently owned by hedge funds and other institutional investors.

HCM Acquisition Price Performance

Shares of NASDAQ:HCMA traded up $0.01 during trading on Friday, hitting $10.29. The company’s stock had a trading volume of 13,103 shares, compared to its average volume of 49,093. The company has a 50-day moving average of $10.20 and a 200-day moving average of $10.15. HCM Acquisition has a 12 month low of $10.03 and a 12 month high of $10.49.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of HCM Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus 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.