Clover Health Investments (NASDAQ:CLOV) Trading Up 4.4% - Here's What Happened

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) shot up 4.4% during mid-day trading on Monday . The stock traded as high as $3.94 and last traded at $3.80. 2,532,523 shares were traded during trading, a decline of 51% from the average session volume of 5,176,259 shares. The stock had previously closed at $3.64.

Analyst Ratings Changes

Several research firms have weighed in on CLOV. 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 on the stock. Craig Hallum initiated coverage on shares of Clover Health Investments in a research note on Tuesday, December 17th. They set a "buy" rating and a $6.00 target price on the stock.

Clover Health Investments Price Performance

The business has a 50-day moving average of $3.36 and a 200 day moving average of $2.94. The company has a market capitalization of $1.86 billion, a PE ratio of -18.60 and a beta of 1.95.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. The business had revenue of $330.99 million during the quarter, compared to analysts' expectations 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 last year, the company posted ($0.09) EPS. As a group, research analysts anticipate that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Clover Health Investments

A number of institutional investors and hedge funds have recently modified their holdings of CLOV. Graypoint LLC purchased a new stake in Clover Health Investments in the fourth quarter worth $632,000. Silverleafe Capital Partners LLC lifted its holdings in Clover Health Investments by 182.9% during the 4th quarter. Silverleafe Capital Partners LLC now owns 45,000 shares of the company's stock valued at $142,000 after buying an additional 29,091 shares in the last quarter. JPMorgan Chase & Co. bought a new position in Clover Health Investments in the 3rd quarter worth about $448,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Clover Health Investments during the third quarter worth approximately $105,000. Finally, Virtu Financial LLC raised its stake in shares of Clover Health Investments by 344.5% during the third quarter. Virtu Financial LLC now owns 58,518 shares of the company's stock valued at $165,000 after acquiring an additional 45,354 shares in the last quarter. Hedge funds and other institutional investors own 19.77% of the company's 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.