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

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

Institutional Investors Weigh In On Clover Health Investments

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC purchased a new stake in Clover Health Investments in the 3rd quarter valued at $28,000. Sigma Planning Corp acquired a new position in Clover Health Investments in the third quarter valued at $29,000. Viewpoint Capital Management LLC raised its holdings in shares of Clover Health Investments by 96.8% in the second quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company's stock valued at $38,000 after buying an additional 15,000 shares during the last quarter. Parallax Volatility Advisers L.P. acquired a new stake in shares of Clover Health Investments during the third quarter worth about $38,000. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Clover Health Investments by 54.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company's stock worth $42,000 after buying an additional 12,104 shares during the last quarter. Hedge funds and other institutional investors own 19.77% of the company's stock.

Wall Street Analyst Weigh In

Separately, UBS Group started coverage on Clover Health Investments in a research note on Monday, October 7th. They set a "neutral" rating and a $4.00 target price for the company.

Clover Health Investments Price Performance

Shares of Clover Health Investments stock traded up $0.01 during trading hours on Monday, hitting $3.12. The company had a trading volume of 4,464,974 shares, compared to its average volume of 7,776,695. The company's 50-day moving average is $3.64 and its two-hundred day moving average is $2.64. The company has a market cap of $1.56 billion, a P/E ratio of -15.60 and a beta of 1.94. Clover Health Investments has a twelve month low of $0.61 and a twelve month high of $4.71.

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

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.