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

Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 557 shares, a decrease of 43.6% from the September 15th total of 988 shares. Based on an average daily trading volume, of 88,151 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

Healthcare Capital Acquisition Stock Performance

HCAC traded down $0.04 on Thursday, hitting $10.13. The company had a trading volume of 2,611 shares, compared to its average volume of 95,028. The stock has a market capitalization of $377.92 million, a price-to-earnings ratio of 202.60 and a beta of 0.41. The stock has a fifty day moving average price of $10.11 and a 200-day moving average price of $10.05. Healthcare Capital Acquisition has a 12-month low of $9.91 and a 12-month high of $10.18.

Institutional Investors Weigh In On Healthcare Capital Acquisition

An institutional investor recently bought a new position in Healthcare Capital Acquisition stock. Governors Lane LP purchased a new position in shares of Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 275,000 shares of the company’s stock, valued at approximately $2,761,000. Governors Lane LP owned approximately 0.74% of Healthcare Capital Acquisition at the end of the most recent quarter. Institutional investors own 66.82% of the company’s stock.

Analyst Ratings Changes

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

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.