Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) Sees Significant Drop in Short Interest

Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 988 shares, a decrease of 54.1% from the August 31st total of 2,153 shares. Based on an average daily trading volume, of 48,134 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.

Healthcare Capital Acquisition Trading Up 0.0%

Healthcare Capital Acquisition stock traded up $0.01 during midday trading on Wednesday, hitting $10.12. 3,092 shares of the stock were exchanged, compared to its average volume of 89,741. The stock’s 50-day simple moving average is $10.09 and its 200 day simple moving average is $10.03. Healthcare Capital Acquisition has a fifty-two week low of $9.91 and a fifty-two week high of $10.13. The stock has a market capitalization of $377.73 million, a price-to-earnings ratio of 202.50 and a beta of 0.41.

Institutional Trading of Healthcare Capital Acquisition

A hedge fund recently bought a new position in Healthcare Capital Acquisition stock. BlueCrest Capital Management Ltd acquired a new position in Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 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 Securities & Exchange Commission. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings initiated coverage on shares of Healthcare Capital Acquisition in a research note on Monday, August 24th. They issued a “sell (e+)” rating on the stock. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

About Healthcare Capital Acquisition

Healthcare Capital Acquisition Corp. (NASDAQ: HCAC) was a special purpose acquisition company (SPAC) formed to pursue a business combination with a company in the healthcare industry. As a blank-check company, it did not operate a healthcare business or offer its own products and services.

Its investment focus was broadly oriented toward healthcare, life sciences, medical technology, pharmaceuticals, biotechnology, diagnostics and related sectors. The company’s principal activity was identifying a suitable target, negotiating a transaction and obtaining approval from its shareholders and other stakeholders.

Because Healthcare Capital Acquisition Corp.