HCM II Acquisition (NASDAQ:HOND) Stock Price Up 22.4% - Here's What Happened

Key Points

• The stock price of HCM II Acquisition Corp. (NASDAQ: HOND) surged by 22.4% on Wednesday, reaching a high of $31.28 before settling at $30.57.
• Weiss Ratings has issued a "sell (d-)" rating on the stock, which aligns with the overall consensus rating of "Sell" from analysts.
• Significant institutional activity was noted, with hedge funds notably increasing their positions, including a 41,400.0% increase by FNY Investment Advisers LLC during the second quarter.

HCM II Acquisition Corp. (NASDAQ:HOND - Get Free Report) shares rose 22.4% on Wednesday . The company traded as high as $31.28 and last traded at $30.57. Approximately 2,955,975 shares traded hands during trading, an increase of 400% from the average daily volume of 591,443 shares. The stock had previously closed at $24.98.

Wall Street Analyst Weigh In

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, Based on data from MarketBeat, the stock has a consensus rating of "Sell".

HCM II Acquisition Price Performance

The firm's fifty day simple moving average is $13.65 and its 200 day simple moving average is $11.97.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. North Capital Inc. acquired a new position in shares of HCM II Acquisition during the 2nd quarter worth about $67,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of HCM II Acquisition during the 2nd quarter worth about $209,000. Mizuho Securities USA LLC acquired a new position in shares of HCM II Acquisition during the 1st quarter worth about $271,000. FNY Investment Advisers LLC raised its position in shares of HCM II Acquisition by 41,400.0% during the 2nd 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 during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of HCM II Acquisition during the 2nd quarter worth about $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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