Clover Health Investments, Corp. (NASDAQ:CLOV) Sees Significant Increase in Short Interest

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 18,330,000 shares, an increase of 16.4% from the October 15th total of 15,750,000 shares. Based on an average trading volume of 9,770,000 shares, the short-interest ratio is presently 1.9 days.

Hedge Funds Weigh In On Clover Health Investments

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in Clover Health Investments by 21.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company's stock valued at $13,622,000 after acquiring an additional 868,501 shares during the period. Jupiter Asset Management Ltd. lifted its position in 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 valued at $3,593,000 after purchasing an additional 692,878 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Clover Health Investments by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company's stock valued at $8,461,000 after purchasing an additional 150,550 shares during the last quarter. State Street Corp grew its position in Clover Health Investments by 65.0% during the 3rd 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 period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake 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 buying an additional 485,987 shares during the last quarter. 19.77% of the stock is owned by hedge funds and other institutional investors.

Clover Health Investments Price Performance

Shares of NASDAQ:CLOV traded down $0.04 during trading on Friday, hitting $3.04. The company had a trading volume of 5,291,003 shares, compared to its average volume of 8,084,141. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -15.20 and a beta of 2.03. The company has a fifty day simple moving average of $3.52 and a two-hundred day simple moving average of $2.26. Clover Health Investments has a one year low of $0.61 and a one year high of $4.71.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company had revenue of $330.99 million for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted ($0.09) EPS. On average, equities research analysts anticipate that Clover Health Investments will post -0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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