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

Healthcare Capital Acquisition Corp. (NASDAQ:HCAC) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totaling 11,430 shares, a growth of 64.2% from the June 30th total of 6,962 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 136,006 shares, the short-interest ratio is currently 0.1 days.

Healthcare Capital Acquisition Price Performance

NASDAQ HCAC traded down $0.01 on Friday, hitting $10.06. 95,134 shares of the stock traded hands, compared to its average volume of 104,769. The company has a 50-day moving average price of $10.05. Healthcare Capital Acquisition has a twelve month low of $9.91 and a twelve month high of $10.08. The stock has a market capitalization of $375.35 million, a P/E ratio of 201.22 and a beta of 0.41.

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.