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

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

Analysts Set New Price Targets

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

Institutional Trading of Healthcare Capital Acquisition

An institutional investor 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 the company in its most recent 13F filing with the SEC. The fund bought 250,000 shares of the company’s stock, valued at approximately $2,510,000. BlueCrest Capital Management Ltd owned about 0.67% of Healthcare Capital Acquisition as of its most recent SEC filing. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Capital Acquisition Price Performance

Shares of NASDAQ:HCAC traded down $0.02 during trading on Monday, hitting $10.10. The company had a trading volume of 25,728 shares, compared to its average volume of 90,086. Healthcare Capital Acquisition has a one year low of $9.91 and a one year high of $10.13. The stock has a market cap of $376.80 million, a price-to-earnings ratio of 202.00 and a beta of 0.41. The company has a fifty day simple moving average of $10.09 and a two-hundred day simple moving average of $10.03.

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.