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 decrease in short interest in the month of August. As of August 14th, there was short interest totaling 4,707 shares, a decrease of 60.9% from the July 30th total of 12,032 shares. Based on an average trading volume of 10,189 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings initiated coverage on Healthcare Capital Acquisition in a research note on Monday. They issued a “sell (e+)” rating on the stock. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Healthcare Capital Acquisition Price Performance

Shares of Healthcare Capital Acquisition stock remained flat at $10.09 on Friday. The stock had a trading volume of 109,099 shares, compared to its average volume of 93,407. The business has a fifty day moving average price of $10.06. Healthcare Capital Acquisition has a 1-year low of $9.91 and a 1-year high of $10.10. The stock has a market cap of $376.43 million, a P/E 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.