HCM II Acquisition (NASDAQ:HOND) Shares Up 8% - Should You Buy?

Key Points

• HCM II Acquisition Corp. shares rose by 8% to close at $18.45, with trading volume significantly increasing to approximately 814,274 shares.
• Weiss Ratings has reiterated a "sell (d-)" rating on HCM II Acquisition, indicating a consensus rating of "Sell" from analysts.
• Notable hedge funds made substantial investments in the company during the first quarter, with one firm, Magnetar Financial LLC, investing about $20.7 million.

HCM II Acquisition Corp. (NASDAQ:HOND - Get Free Report) was up 8% on Thursday . The stock traded as high as $18.62 and last traded at $18.45. Approximately 814,274 shares traded hands during trading, an increase of 53% from the average daily volume of 531,351 shares. The stock had previously closed at $17.09.

Wall Street Analyst Weigh In

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

HCM II Acquisition Trading Up 5.7%

The firm's 50-day simple moving average is $13.01 and its two-hundred day simple moving average is $11.74.

Hedge Funds Weigh In On HCM II Acquisition

Large investors have recently bought and sold shares of the stock. Calamos Advisors LLC purchased a new position in shares of HCM II Acquisition in the 1st quarter valued at $5,288,000. Context Capital Management LLC acquired a new position in shares of HCM II Acquisition in the 1st quarter valued at about $3,156,000. Mizuho Securities USA LLC acquired a new position in shares of HCM II Acquisition in the 1st quarter valued at about $271,000. MMCAP International Inc. SPC bought a new stake in HCM II Acquisition in the 1st quarter valued at about $10,310,000. Finally, Magnetar Financial LLC bought a new stake in HCM II Acquisition in the 1st quarter valued at about $20,719,000.

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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