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

Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 527 shares, a drop of 64.6% from the April 30th total of 1,490 shares. Based on an average daily trading volume, of 41,036 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are short sold.

Healthcare Capital Acquisition Trading Up 0.2%

Shares of NASDAQ:HCAC traded up $0.02 during mid-day trading on Friday, reaching $10.01. 1,126 shares of the company traded hands, compared to its average volume of 110,051. The stock’s 50 day simple moving average is $9.96. The company has a market capitalization of $373.26 million, a price-to-earnings ratio of 200.10 and a beta of 0.41. Healthcare Capital Acquisition has a 52 week low of $9.91 and a 52 week high of $10.06.

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.