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

Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) saw a large decrease in short interest in May. As of May 15th, there was short interest totaling 527 shares, a decrease 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 currently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

Healthcare Capital Acquisition Stock Performance

NASDAQ:HCAC traded up $0.07 during mid-day trading on Monday, reaching $10.06. 445,781 shares of the company were exchanged, compared to its average volume of 115,138. The stock has a market capitalization of $375.12 million, a PE ratio of 201.10 and a beta of 0.41. Healthcare Capital Acquisition has a 12 month low of $9.91 and a 12 month high of $10.06. The firm’s fifty day moving average is $9.96.

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.