Short Interest in Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) Decreases By 60.9%

Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) was the target of a significant decline in short interest in August. As of August 14th, there was short interest totaling 4,707 shares, a decline of 60.9% from the July 30th total of 12,032 shares. Based on an average daily trading volume, of 10,189 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings began coverage on Healthcare Capital Acquisition in a research report on Monday. They set a “sell (e+)” rating for the company. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Healthcare Capital Acquisition Price Performance

NASDAQ HCAC remained flat at $10.09 during trading on Friday. 109,180 shares of the company’s stock were exchanged, compared to its average volume of 93,408. The firm has a fifty day moving average price of $10.06. Healthcare Capital Acquisition has a one year low of $9.91 and a one year high of $10.10. The stock has a market capitalization of $376.43 million, a price-to-earnings ratio of 201.80 and a beta of 0.41.

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.