Clover Health Investments, Corp. (NASDAQ:CLOV) Short Interest Update

Clover Health Investments, Corp. (NASDAQ:CLOV) saw a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 38,080,000 shares, a decline of 16.0% from the May 15th total of 45,330,000 shares. Based on an average daily volume of 8,370,000 shares, the days-to-cover ratio is currently 4.5 days.

Clover Health Investments Stock Performance

Shares of Clover Health Investments stock traded up $0.06 during trading hours on Friday, hitting $1.09. The company’s stock had a trading volume of 4,981,730 shares, compared to its average volume of 5,385,832. The firm has a fifty day moving average of $0.86 and a 200-day moving average of $0.90. The stock has a market cap of $541.12 million, a price-to-earnings ratio of -3.21 and a beta of 2.09. Clover Health Investments has a twelve month low of $0.61 and a twelve month high of $1.63.

Clover Health Investments (NASDAQ:CLOV) last announced its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. Clover Health Investments had a negative net margin of 8.63% and a negative return on equity of 48.07%. The company had revenue of $346.92 million during the quarter, compared to analyst estimates of $316.10 million. On average, sell-side analysts expect that Clover Health Investments will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clover Health Investments

Hedge funds have recently made changes to their positions in the stock. Jupiter Asset Management Ltd. lifted its position in shares of Clover Health Investments by 18.1% during the first quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company’s stock worth $3,593,000 after purchasing an additional 692,878 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Clover Health Investments by 2.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 813,695 shares of the company’s stock worth $879,000 after purchasing an additional 20,813 shares during the last quarter. Swiss National Bank increased its stake in Clover Health Investments by 1.6% in the third quarter. Swiss National Bank now owns 782,200 shares of the company’s stock valued at $845,000 after purchasing an additional 12,400 shares during the last quarter. Citigroup Inc. raised its holdings in Clover Health Investments by 4,040.8% during the third quarter. Citigroup Inc. now owns 372,421 shares of the company’s stock worth $402,000 after purchasing an additional 363,427 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of Clover Health Investments during the 1st quarter worth approximately $142,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

About Clover Health Investments

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.