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

Key Points

• HCM II Acquisition Corp. shares experienced a notable increase, gapping up from a previous close of $18.86 to open at $21.69, with last trades at $21.21 and a trading volume of 1,141,468 shares.
• Despite the increase in stock price, Weiss Ratings maintained a "sell (d-)" rating for HCM II Acquisition, indicating bearish sentiment from at least one equities research analyst.
• Institutional trading activity has ramped up, with several firms purchasing new stakes, including JPMorgan Chase & Co., which bought shares worth $552,000 in the second quarter.

HCM II Acquisition Corp. (NASDAQ:HOND - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $18.86, but opened at $21.69. HCM II Acquisition shares last traded at $21.21, with a volume of 1,141,468 shares traded.

Wall Street Analysts Forecast Growth

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

HCM II Acquisition Trading Up 9.6%

The stock has a fifty day moving average of $13.17 and a two-hundred day moving average of $11.81.

Institutional Trading of HCM II Acquisition

Institutional investors have recently bought and sold shares of the company. North Capital Inc. purchased a new stake in HCM II Acquisition during the second quarter worth $67,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in HCM II Acquisition during the second quarter worth $209,000. Mizuho Securities USA LLC purchased a new stake in HCM II Acquisition during the first quarter worth $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 worth $460,000 after purchasing an additional 41,400 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in HCM II Acquisition during the second quarter worth $552,000.

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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