HCM Acquisition (NASDAQ:HCMA) Shares Up 0.2% - Still a Buy?

Key Points

• HCM Acquisition shares rose 0.2% to $10.31 during mid-day trading, while trading volume fell 75% below the average session volume.
• Weiss Ratings reaffirmed a “sell (D-)” rating, and the company has an overall “Sell” consensus from the one analyst covering the stock.
• The company reported quarterly earnings of $0.05 per share, while institutional investors held 11.79% of its stock after several hedge funds increased or initiated positions.

HCM Acquisition Corp (NASDAQ:HCMA - Get Free Report)'s stock price traded up 0.2% during mid-day trading on Tuesday. The stock traded as high as $10.29 and last traded at $10.31. 13,047 shares traded hands during trading, a decline of 75% from the average session volume of 52,154 shares. The stock had previously closed at $10.29.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of HCM Acquisition in a report on Thursday, August 27th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has an average rating of "Sell".

HCM Acquisition Stock Up 0.2%

The stock has a 50 day moving average of $10.30 and a 200 day moving average of $10.22.

HCM Acquisition (NASDAQ:HCMA - Get Free Report) last released its earnings results on Friday, August 14th. The company reported $0.05 earnings per share for the quarter.

Hedge Funds Weigh In On HCM Acquisition

A number of hedge funds have recently bought and sold shares of the company. Galaxy Digital Inc. acquired a new position in HCM Acquisition in the first quarter valued at $1,008,000. Rivernorth Capital Management LLC acquired a new stake in HCM Acquisition during the 1st quarter worth about $2,016,000. Berkley W R Corp grew its holdings in HCM Acquisition by 34.4% during the 1st quarter. Berkley W R Corp now owns 388,407 shares of the company's stock worth $3,915,000 after acquiring an additional 99,480 shares during the period. Readystate Asset Management LP acquired a new stake in HCM Acquisition during the 1st quarter worth about $541,000. Finally, DLD Asset Management LP grew its holdings in HCM Acquisition by 19.0% during the 1st quarter. DLD Asset Management LP now owns 250,000 shares of the company's stock worth $2,520,000 after acquiring an additional 40,000 shares during the period. Institutional investors own 11.79% of the company's stock.

HCM Acquisition Company Profile

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