HCM II Acquisition (NASDAQ:HOND) Sets New 52-Week High - Still a Buy?

Key Points

• HCM II Acquisition Corp. (NASDAQ:HOND) reached a new 52-week high of $19.87 before closing at $19.69, with a trading volume of 698,648 shares.
• Weiss Ratings maintained a "sell (d-)" rating for HCM II Acquisition, reflecting a consensus "Sell" rating from analysts.
• Multiple institutional investors have recently increased their stakes or established new positions in HCM II Acquisition, indicating growing interest in the company.

HCM II Acquisition Corp. (NASDAQ:HOND - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $19.87 and last traded at $19.69, with a volume of 698648 shares. The stock had previously closed at $18.07.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of HCM II Acquisition in a report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of "Sell".

HCM II Acquisition Price Performance

The business has a 50 day simple moving average of $13.01 and a two-hundred day simple moving average of $11.74.

Hedge Funds Weigh In On HCM II Acquisition

Several institutional investors have recently made changes to their positions in the company. North Capital Inc. increased its stake in shares of HCM II Acquisition by 66.7% during the third quarter. North Capital Inc. now owns 10,000 shares of the company's stock valued at $164,000 after buying an additional 4,000 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in HCM II Acquisition during the second quarter valued at about $209,000. Mizuho Securities USA LLC bought a new stake in HCM II Acquisition during the first quarter valued at about $271,000. FNY Investment Advisers LLC boosted its position in HCM II Acquisition by 41,400.0% during the second quarter. FNY Investment Advisers LLC now owns 41,500 shares of the company's stock valued at $460,000 after purchasing an additional 41,400 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in HCM II Acquisition during the second quarter valued at about $552,000.

HCM II Acquisition Company Profile

HCM II Acquisition Corp. operates as a blank check company. It was formed for the purpose of entering into a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded on April 4, 2024 and is headquartered in Stamford, CT.

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