Clover Health Investments, Corp. (NASDAQ:CLOV) Sees Large Decline in Short Interest

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 15,280,000 shares, a decline of 7.1% from the November 15th total of 16,440,000 shares. Based on an average daily trading volume, of 7,210,000 shares, the short-interest ratio is currently 2.1 days.

Clover Health Investments Stock Up 1.0 %

NASDAQ:CLOV traded up $0.03 during trading hours on Monday, reaching $3.14. The company had a trading volume of 4,257,278 shares, compared to its average volume of 7,773,610. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -15.55 and a beta of 1.94. The business’s 50-day simple moving average is $3.65 and its two-hundred day simple moving average is $2.62. Clover Health Investments has a twelve month low of $0.61 and a twelve month high of $4.71.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. The firm had revenue of $330.99 million during the quarter, compared to the consensus estimate of $347.60 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. As a group, equities analysts predict that Clover Health Investments will post -0.12 earnings per share for the current year.

Institutional Trading of Clover Health Investments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Forum Financial Management LP grew its holdings in Clover Health Investments by 33.8% during the third quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock worth $45,000 after buying an additional 4,061 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Clover Health Investments by 98.9% during the third quarter. Bleakley Financial Group LLC now owns 20,090 shares of the company’s stock worth $57,000 after purchasing an additional 9,988 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in Clover Health Investments in the 3rd quarter worth about $28,000. Sigma Planning Corp bought a new position in shares of Clover Health Investments during the 3rd quarter worth approximately $29,000. Finally, SignalPoint Asset Management LLC boosted its stake in shares of Clover Health Investments by 8.1% in the 3rd quarter. SignalPoint Asset Management LLC now owns 150,684 shares of the company’s stock worth $425,000 after buying an additional 11,318 shares during the last quarter. 19.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, UBS Group started coverage on shares of Clover Health Investments in a research report on Monday, October 7th. They set a “neutral” rating and a $4.00 price target on the stock.

Clover Health Investments Company Profile

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.