HCM Acquisition (NASDAQ:HCMA) Shares Down 6.3%

HCM Acquisition Corp (NASDAQ:HCMA) shares fell 6.3% on Wednesday . The company traded as low as $7.51 and last traded at $7.53. 33,873 shares traded hands during trading, a decline of 51% from the average session volume of 68,548 shares. The stock had previously closed at $8.04.

HCM Acquisition Price Performance

The business’s 50 day moving average is $10.57 and its 200 day moving average is $10.95.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Mizuho Securities USA LLC lifted its position in shares of HCM Acquisition by 277.2% during the third quarter. Mizuho Securities USA LLC now owns 94,840 shares of the company’s stock worth $1,029,000 after purchasing an additional 69,700 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in HCM Acquisition in the third quarter valued at approximately $57,000. Cowen AND Company LLC purchased a new position in HCM Acquisition in the fourth quarter valued at approximately $559,000. Finally, Berkley W R Corp increased its stake in HCM Acquisition by 55.3% in the fourth quarter. Berkley W R Corp now owns 681,681 shares of the company’s stock valued at $7,614,000 after purchasing an additional 242,800 shares during the last quarter. Institutional investors and hedge funds own 11.79% of the company’s stock.

About HCM Acquisition

HCM Acquisition Corp does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. HCM Acquisition Corp was incorporated in 2021 and is based in Stamford, Connecticut.