Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) Shares Shorted: Short Interest Down 43.6% in September

Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 557 shares, a decline of 43.6% from the September 15th total of 988 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 88,151 shares, the short-interest ratio is currently 0.0 days.

Healthcare Capital Acquisition Stock Performance

NASDAQ HCAC traded down $0.00 on Friday, hitting $10.13. 552 shares of the stock traded hands, compared to its average volume of 94,419. The business’s fifty day moving average is $10.11 and its two-hundred day moving average is $10.05. Healthcare Capital Acquisition has a 12 month low of $9.91 and a 12 month high of $10.18. The firm has a market capitalization of $377.77 million, a price-to-earnings ratio of 202.52 and a beta of 0.41.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Healthcare Capital Acquisition stock. BlueCrest Capital Management Ltd purchased a new position in shares of Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 250,000 shares of the company’s stock, valued at approximately $2,510,000. BlueCrest Capital Management Ltd owned 0.67% of Healthcare Capital Acquisition as of its most recent filing with the SEC. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Healthcare Capital Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Healthcare Capital Acquisition presently has a consensus rating of “Sell”.

About Healthcare Capital Acquisition

Healthcare Capital Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with a company operating in the healthcare sector.

As a SPAC, the company did not operate healthcare facilities, manufacture medical products, or provide healthcare services of its own. Its primary activities involved raising capital through an initial public offering and evaluating potential merger or acquisition opportunities.