HCM II Acquisition (NASDAQ:HOND) Stock Price Down 10.9% - Here's What Happened

Key Points

• HCM II Acquisition Corp. (NASDAQ:HOND) shares fell by 10.9% on Tuesday, trading as low as $19.41 before closing at $20.21.
• Weiss Ratings has given HCM II Acquisition a "sell (d-)" rating, contributing to its current average rating of "Sell" among analysts.
• Institutional investments in HCM II Acquisition have increased, with several hedge funds acquiring new stakes in the company during the first quarter.

HCM II Acquisition Corp. (NASDAQ:HOND - Get Free Report) shares traded down 10.9% on Tuesday . The stock traded as low as $19.41 and last traded at $20.21. 2,266,629 shares were traded during mid-day trading, an increase of 210% from the average session volume of 731,711 shares. The stock had previously closed at $22.69.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated 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 MarketBeat.com, the company presently has an average rating of "Sell".

HCM II Acquisition Stock Performance

The business has a 50-day moving average price of $14.75 and a two-hundred day moving average price of $12.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Calamos Advisors LLC acquired a new stake in shares of HCM II Acquisition during the first quarter worth $5,288,000. Context Capital Management LLC acquired a new position in shares of HCM II Acquisition during the 1st quarter worth about $3,156,000. Mizuho Securities USA LLC bought a new stake in shares of HCM II Acquisition in the 1st quarter valued at about $271,000. MMCAP International Inc. SPC acquired a new stake in shares of HCM II Acquisition in the 1st quarter valued at approximately $10,310,000. Finally, Magnetar Financial LLC bought a new position in HCM II Acquisition during the 1st quarter worth approximately $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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