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

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 11,900,000 shares, a drop of 22.4% from the February 13th total of 15,330,000 shares. Based on an average daily volume of 5,890,000 shares, the short-interest ratio is presently 2.0 days. Currently, 3.1% of the shares of the company are sold short.

Insider Transactions at Clover Health Investments

In other Clover Health Investments news, Director Carladenise Armbrister Edwards sold 200,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $3.61, for a total transaction of $722,000.00. Following the sale, the director now directly owns 273,227 shares of the company's stock, valued at $986,349.47. This represents a 42.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brady Patrick Priest sold 75,000 shares of Clover Health Investments stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $3.68, for a total transaction of $276,000.00. Following the completion of the transaction, the chief executive officer now owns 2,418,151 shares of the company's stock, valued at $8,898,795.68. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,500 shares of company stock worth $1,197,500 in the last quarter. Insiders own 22.28% of the company's stock.

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Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Graypoint LLC bought a new stake in Clover Health Investments during the fourth quarter valued at $632,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Clover Health Investments in the 3rd quarter valued at about $1,228,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Clover Health Investments by 75.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company's stock valued at $3,181,000 after acquiring an additional 485,987 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Clover Health Investments during the third quarter worth about $448,000. Finally, State Street Corp increased its position in shares of Clover Health Investments by 65.0% in the third quarter. State Street Corp now owns 2,189,380 shares of the company's stock worth $6,174,000 after purchasing an additional 862,621 shares during the last quarter. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Clover Health Investments Trading Up 1.6 %

Shares of CLOV stock traded up $0.06 during trading hours on Friday, reaching $3.72. The stock had a trading volume of 4,653,930 shares, compared to its average volume of 6,877,986. The stock's fifty day simple moving average is $4.13 and its 200 day simple moving average is $3.64. The firm has a market capitalization of $1.90 billion, a PE ratio of -18.60 and a beta of 2.00. Clover Health Investments has a 12 month low of $0.61 and a 12 month high of $4.87.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CLOV shares. Craig Hallum assumed coverage on shares of Clover Health Investments in a report on Tuesday, December 17th. They set a "buy" rating and a $6.00 target price on the stock. Canaccord Genuity Group lifted their price target on Clover Health Investments from $4.20 to $4.50 and gave the company a "buy" rating in a research report on Monday, March 3rd.

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.