Galaxy Digital Inc. Invests $1.01 Million in HCM Acquisition Corp $HCMA

Key Points

• Galaxy Digital Inc. bought 100,000 shares of HCM Acquisition in the first quarter, a position worth about $1.01 million and equal to roughly 0.71% of the company.
• Other institutional investors have also been active in HCMA, and hedge funds/institutions now own 11.79% of the stock.
• Wall Street sentiment remains weak: HCM Acquisition has a consensus Sell rating, and Weiss Ratings recently upgraded it only from “sell (e+)” to “sell (d-).”

Galaxy Digital Inc. acquired a new stake in shares of HCM Acquisition Corp (NASDAQ:HCMA - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 100,000 shares of the company's stock, valued at approximately $1,008,000. Galaxy Digital Inc. owned about 0.71% of HCM Acquisition at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Meteora Capital LLC acquired a new position in HCM Acquisition during the 3rd quarter valued at about $16,587,000. Verition Fund Management LLC purchased a new stake in HCM Acquisition in the third quarter valued at about $11,617,000. MMCAP International Inc. SPC acquired a new stake in HCM Acquisition in the fourth quarter worth about $10,040,000. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in HCM Acquisition in the third quarter worth about $10,105,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of HCM Acquisition during the fourth quarter worth about $10,060,000. Institutional investors and hedge funds own 11.79% of the company's stock.

Analysts Set New Price Targets

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

HCM Acquisition Trading Up 0.3%

NASDAQ:HCMA opened at $10.31 on Friday. HCM Acquisition Corp has a 12 month low of $10.03 and a 12 month high of $10.49. The firm has a fifty day simple moving average of $10.27 and a 200-day simple moving average of $10.18.

HCM Acquisition (NASDAQ:HCMA - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.05 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source