Clover Health Investments (NASDAQ:CLOV) Shares Gap Up - Should You Buy?

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $4.26, but opened at $4.47. Clover Health Investments shares last traded at $4.45, with a volume of 4,496,601 shares changing hands.

Analyst Upgrades and Downgrades

Separately, UBS Group initiated coverage on Clover Health Investments in a research report on Monday, October 7th. They issued a "neutral" rating and a $4.00 price objective on the stock.

Clover Health Investments Stock Performance

The stock has a fifty day simple moving average of $3.05 and a 200 day simple moving average of $1.79. The firm has a market cap of $2.08 billion, a P/E ratio of -13.06 and a beta of 2.13.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.05. Clover Health Investments had a negative net margin of 7.30% and a negative return on equity of 36.55%. The company had revenue of $356.26 million for the quarter, compared to the consensus estimate of $338.70 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Research analysts predict that Clover Health Investments, Corp. will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bleakley Financial Group LLC grew its stake in shares of Clover Health Investments by 98.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 20,090 shares of the company's stock valued at $57,000 after acquiring an additional 9,988 shares during the period. Viewpoint Capital Management LLC boosted its position in shares of Clover Health Investments by 96.8% in the second quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company's stock worth $38,000 after purchasing an additional 15,000 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Clover Health Investments by 54.4% in the second 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 in the last quarter. Marshall Wace LLP bought a new stake in shares of Clover Health Investments during the 2nd quarter valued at $55,000. Finally, Jaffetilchin Investment Partners LLC lifted its stake in shares of Clover Health Investments by 30.2% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company's stock valued at $39,000 after buying an additional 11,550 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.