Short Interest in Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) Expands By 495.3%

Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) was the recipient of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 3,137 shares, a growth of 495.3% from the May 14th total of 527 shares. Based on an average daily volume of 18,104 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

Healthcare Capital Acquisition Stock Performance

Shares of HCAC traded up $0.01 during mid-day trading on Wednesday, hitting $10.05. 7,638 shares of the company traded hands, compared to its average volume of 106,069. The company has a market cap of $374.94 million, a PE ratio of 201.00 and a beta of 0.41. Healthcare Capital Acquisition has a 1 year low of $9.91 and a 1 year high of $10.08. The business has a 50-day moving average price of $9.98.

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.