Clover Health Investments (NASDAQ:CLOV) Shares Down 4.5% - Here's Why

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) was down 4.5% on Wednesday . The stock traded as low as $4.43 and last traded at $4.39. Approximately 1,149,289 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 6,965,554 shares. The stock had previously closed at $4.59.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group started coverage on shares of Clover Health Investments in a report on Monday, October 7th. They issued a "neutral" rating and a $4.00 price objective on the stock. Craig Hallum started coverage on Clover Health Investments in a research note on Tuesday, December 17th. They set a "buy" rating and a $6.00 target price for the company.

Clover Health Investments Trading Up 3.7 %

The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -22.35 and a beta of 1.98. The company has a fifty day simple moving average of $3.62 and a 200-day simple moving average of $3.25.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last announced 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. 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 analyst estimates of $347.60 million. During the same period last year, the company posted ($0.09) EPS. As a group, analysts anticipate that Clover Health Investments, Corp. will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CLOV. Forum Financial Management LP increased its holdings in shares of Clover Health Investments by 33.8% during the 3rd quarter. Forum Financial Management LP now owns 16,077 shares of the company's stock valued at $45,000 after acquiring an additional 4,061 shares during the last quarter. Steph & Co. raised its position in shares of Clover Health Investments by 33.3% in the fourth quarter. Steph & Co. now owns 20,000 shares of the company's stock valued at $63,000 after purchasing an additional 5,000 shares during the period. SignalPoint Asset Management LLC raised its position in shares of Clover Health Investments by 6.2% in the fourth quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company's stock valued at $504,000 after purchasing an additional 9,390 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Clover Health Investments by 98.9% in the third quarter. Bleakley Financial Group LLC now owns 20,090 shares of the company's stock worth $57,000 after buying an additional 9,988 shares during the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Clover Health Investments during the 3rd quarter worth $28,000. 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.