HCM Acquisition (NASDAQ:HCMA) Stock Price Breaks Above 50 Day Moving Average – Here’s What Happened

Shares of HCM Acquisition Corp (NASDAQ:HCMA) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $10.30 and traded as high as $10.32. HCM Acquisition shares last traded at $10.3150, with a volume of 57,264 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of HCM Acquisition in a research note on Thursday, August 27th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, HCM Acquisition presently has a consensus rating of “Sell”.

HCM Acquisition Stock Performance

The company’s 50-day moving average is $10.30 and its 200 day moving average is $10.22.

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

Institutional Trading of HCM Acquisition

Several institutional investors have recently added to or reduced their stakes in the business. Berkley W R Corp raised its stake in shares of HCM Acquisition by 34.4% in the first quarter. Berkley W R Corp now owns 388,407 shares of the company’s stock worth $3,915,000 after purchasing an additional 99,480 shares during the last quarter. DLD Asset Management LP lifted its holdings in shares of HCM Acquisition by 19.0% during the first quarter. DLD Asset Management LP now owns 250,000 shares of the company’s stock valued at $2,520,000 after purchasing an additional 40,000 shares in the last quarter. Rivernorth Capital Management LLC purchased a new stake in shares of HCM Acquisition during the first quarter valued at $2,016,000. Galaxy Digital Inc. purchased a new stake in shares of HCM Acquisition during the first quarter valued at $1,008,000. Finally, Readystate Asset Management LP purchased a new stake in shares of HCM Acquisition during the first quarter valued at $541,000. 11.79% of the stock is currently owned by hedge funds and other institutional investors.

About HCM Acquisition