HCM II Acquisition (NASDAQ:HOND) Shares Gap Down - Here's What Happened

Key Points

• HCM II Acquisition Corp. shares gapped down sharply from a closing price of $19.19 to an opening price of $17.43 before last trading at $17.44.
• Weiss Ratings has reissued a "sell (d-)" rating for HCM II Acquisition, with the consensus rating across analysts also indicating a Sell stance.
• Several institutional investors have recently purchased significant new stakes in HCM II Acquisition, including Magnetar Financial LLC with a stake valued at approximately $20.7 million.

HCM II Acquisition Corp. (NASDAQ:HOND - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $19.19, but opened at $17.43. HCM II Acquisition shares last traded at $17.44, with a volume of 3,270,237 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of HCM II Acquisition in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Sell".

HCM II Acquisition Stock Performance

The stock has a 50-day simple moving average of $14.91 and a two-hundred day simple moving average of $12.43.

Institutional Investors Weigh In On HCM II Acquisition

A number of large investors have recently added to or reduced their stakes in HOND. Calamos Advisors LLC purchased a new stake in HCM II Acquisition during the first quarter valued at about $5,288,000. Context Capital Management LLC purchased a new stake in HCM II Acquisition during the first quarter valued at about $3,156,000. Mizuho Securities USA LLC purchased a new stake in HCM II Acquisition during the first quarter valued at about $271,000. MMCAP International Inc. SPC purchased a new stake in HCM II Acquisition during the first quarter valued at about $10,310,000. Finally, Magnetar Financial LLC bought a new position in shares of HCM II Acquisition during the first quarter valued at about $20,719,000.

About HCM II Acquisition

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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