Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) Short Interest Down 60.9% in August

Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) saw a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 4,707 shares, a drop 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 presently 0.5 days. Approximately 0.0% of the shares of the company are short sold.

Healthcare Capital Acquisition Stock Performance

Shares of NASDAQ HCAC remained flat at $10.09 during trading on Friday. The company’s stock had a trading volume of 109,180 shares, compared to its average volume of 93,408. The company’s 50-day moving average is $10.06. The firm has a market cap of $376.43 million, a price-to-earnings ratio of 201.80 and a beta of 0.41. Healthcare Capital Acquisition has a twelve month low of $9.91 and a twelve month high of $10.10.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings initiated coverage on shares of Healthcare Capital Acquisition in a report on Monday, August 24th. They issued a “sell (e+)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Healthcare Capital Acquisition currently has a consensus rating of “Sell”.

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.