Clover Health Investments (NASDAQ:CLOV) Trading Up 3.5% - What's Next?

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) shares traded up 3.5% on Tuesday . The stock traded as high as $3.27 and last traded at $3.23. 697,331 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 7,747,493 shares. The stock had previously closed at $3.12.

Analyst Upgrades and Downgrades

CLOV has been the topic of several research analyst reports. UBS Group initiated coverage on Clover Health Investments in a research note on Monday, October 7th. They issued a "neutral" rating and a $4.00 price objective on the stock. Craig Hallum initiated coverage on Clover Health Investments in a report on Tuesday. They issued a "buy" rating and a $6.00 price target for the company.

Clover Health Investments Trading Up 2.9 %

The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -15.95 and a beta of 1.94. The firm has a 50-day moving average of $3.64 and a 200 day moving average of $2.64.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.01. The company had revenue of $330.99 million for the quarter, compared to analyst estimates 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) earnings per share. As a group, research analysts forecast 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 added to or reduced their stakes in the company. Concurrent Investment Advisors LLC acquired a new stake in shares of Clover Health Investments during the third quarter worth approximately $28,000. Sigma Planning Corp bought a new position in Clover Health Investments during the 3rd quarter valued at $29,000. Viewpoint Capital Management LLC grew its holdings in Clover Health Investments by 96.8% during the 2nd quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company's stock worth $38,000 after acquiring an additional 15,000 shares in the last quarter. Parallax Volatility Advisers L.P. bought a new stake in shares of Clover Health Investments in the 3rd quarter worth about $38,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Clover Health Investments by 54.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company's stock worth $42,000 after purchasing an additional 12,104 shares during the last quarter. 19.77% of the stock is owned by hedge funds and other institutional investors.

About Clover Health Investments

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.