Short Interest in Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) Rises By 362.0%

Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 6,962 shares, a growth of 362.0% from the June 15th total of 1,507 shares. Based on an average trading volume of 106,011 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

Healthcare Capital Acquisition Stock Performance

Shares of HCAC remained flat at $10.05 on Monday. The stock had a trading volume of 1,049,870 shares, compared to its average volume of 111,514. The stock has a market capitalization of $374.94 million, a price-to-earnings ratio of 201.00 and a beta of 0.41. Healthcare Capital Acquisition has a 1-year low of $9.91 and a 1-year high of $10.08. The firm has a 50 day moving average price of $10.03.

Healthcare Capital Acquisition (NASDAQ: HCAC) is a special purpose acquisition company (SPAC), commonly referred to as a blank‑check company, formed to raise capital through a public listing and pursue one or more business combinations. As a SPAC, Healthcare Capital Acquisition does not operate commercial businesses of its own; instead it holds funds in trust while identifying and negotiating a merger, acquisition or other business combination with an operating company, with a stated focus on opportunities in the healthcare sector.

The firm’s primary activities include sourcing and evaluating potential targets in healthcare and life sciences, structuring transactions, and completing a business combination that would result in the target becoming a publicly listed company.