K2 Principal Fund L.P. Sells 65,398 Shares of HCM Acquisition Corp $HCMA

K2 Principal Fund L.P. reduced its stake in HCM Acquisition Corp (NASDAQ:HCMA) by 21.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,602 shares of the company’s stock after selling 65,398 shares during the period. K2 Principal Fund L.P. owned approximately 1.66% of HCM Acquisition worth $2,355,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HCMA. Meteora Capital LLC bought a new position in shares of HCM Acquisition in the third quarter worth $16,587,000. Verition Fund Management LLC bought a new position in shares of HCM Acquisition in the third quarter worth $11,617,000. Linden Advisors LP bought a new position in shares of HCM Acquisition in the third quarter worth $10,100,000. Highbridge Capital Management LLC bought a new position in shares of HCM Acquisition in the third quarter worth $10,100,000. Finally, MMCAP International Inc. SPC bought a new position in shares of HCM Acquisition in the fourth quarter worth $10,040,000. 11.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

HCM Acquisition Price Performance

NASDAQ:HCMA opened at $10.26 on Friday. HCM Acquisition Corp has a 52-week low of $10.03 and a 52-week high of $10.49. The stock has a fifty day moving average of $10.17 and a 200 day moving average of $10.14.

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

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.