Clover Health Investments, Corp. (NASDAQ:CLOV – Get Free Report) was up 8% during trading on Tuesday . The company traded as high as $3.68 and last traded at $3.65. Approximately 7,345,603 shares were traded during mid-day trading, an increase of 47% from the average daily volume of 4,991,149 shares. The stock had previously closed at $3.38.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. UBS Group started coverage on shares of Clover Health Investments in a research report on Monday, October 7th. They issued a “neutral” rating and a $4.00 price target for the company. Craig Hallum started coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price target for the company.
Get Our Latest Research Report on CLOV
Clover Health Investments Trading Up 6.8 %
Clover Health Investments (NASDAQ:CLOV – Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $330.99 million for the quarter, compared to analyst estimates of $347.60 million. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. During the same period in the previous year, the business posted ($0.09) earnings per share. Research analysts expect that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.
Institutional Trading of Clover Health Investments
A number of institutional investors have recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC acquired a new position in shares of Clover Health Investments during the 3rd quarter worth $28,000. Sigma Planning Corp acquired a new position in Clover Health Investments during the third quarter worth about $29,000. Parallax Volatility Advisers L.P. purchased a new stake in shares of Clover Health Investments in the third quarter valued at about $38,000. Realta Investment Advisors acquired a new stake in shares of Clover Health Investments in the third quarter valued at approximately $44,000. Finally, Forum Financial Management LP increased its stake in shares of Clover Health Investments by 33.8% during the 3rd quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock worth $45,000 after purchasing an additional 4,061 shares in the last quarter. 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.
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