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

Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) was the recipient of a large decline in short interest during 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 company’s shares are sold short. Based on an average daily volume of 88,151 shares, the days-to-cover ratio is presently 0.0 days.

Healthcare Capital Acquisition Trading Down 0.4%

Shares of NASDAQ HCAC traded down $0.04 during midday trading on Thursday, hitting $10.13. The company’s stock had a trading volume of 2,611 shares, compared to its average volume of 95,028. The business’s 50 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 cap of $377.92 million, a P/E ratio of 202.60 and a beta of 0.41.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Healthcare Capital Acquisition

A hedge fund recently bought a new stake in Healthcare Capital Acquisition stock. BlueCrest Capital Management Ltd bought a new position in Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 250,000 shares of the company’s stock, valued at approximately $2,510,000. BlueCrest Capital Management Ltd owned approximately 0.67% of Healthcare Capital Acquisition at the end of the most recent reporting period. 66.82% of the stock is owned by institutional investors and hedge funds.

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.