Investors Purchase High Volume of HCM II Acquisition Call Options (NASDAQ:HOND)

Key Points

• Traders have shown significant interest in HCM II Acquisition Corp. by purchasing 7,482 call options, marking a 99% increase over the average volume.
• After substantial investments from institutional investors, including a 41,400% increase in holdings by FNY Investment Advisers LLC, the company’s stock reached $19.48, up 7.8% on Friday.
• Despite the stock's recent gains, analysts continue to rate HCM II Acquisition as a "sell", with Weiss Ratings giving it a "sell (d-)" rating.

HCM II Acquisition Corp. (NASDAQ:HOND - Get Free Report) was the target of some unusual options trading on Friday. Traders purchased 7,482 call options on the stock. This represents an increase of approximately 99% compared to the average volume of 3,754 call options.

Institutional Investors Weigh In On HCM II Acquisition

Large investors have recently modified their holdings of the business. North Capital Inc. lifted its stake in HCM II Acquisition by 66.7% in the third quarter. North Capital Inc. now owns 10,000 shares of the company's stock valued at $164,000 after buying an additional 4,000 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in HCM II Acquisition in the second quarter valued at approximately $209,000. Mizuho Securities USA LLC bought a new position in HCM II Acquisition in the first quarter valued at approximately $271,000. FNY Investment Advisers LLC increased its holdings in 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 in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in HCM II Acquisition during the 2nd quarter worth about $552,000.

HCM II Acquisition Trading Up 7.8%

Shares of NASDAQ HOND traded up $1.41 during midday trading on Friday, reaching $19.48. 966,691 shares of the stock were exchanged, compared to its average volume of 536,840. HCM II Acquisition has a 12 month low of $9.96 and a 12 month high of $19.87. The business has a 50-day simple moving average of $13.01 and a two-hundred day simple moving average of $11.74.

Analysts Set New Price Targets

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

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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