Stock Traders Buy High Volume of Clover Health Investments Call Options (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 42,280 call options on the stock. This represents an increase of approximately 106% compared to the typical daily volume of 20,478 call options.

Clover Health Investments Price Performance

Shares of Clover Health Investments stock traded up $0.81 during trading on Wednesday, hitting $3.59. 25,953,190 shares of the company's stock traded hands, compared to its average volume of 7,944,816. Clover Health Investments has a 1 year low of $0.61 and a 1 year high of $3.82. The business has a 50-day simple moving average of $2.61 and a 200-day simple moving average of $1.56. The stock has a market capitalization of $1.78 billion, a P/E ratio of -10.56 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. On average, equities analysts predict that Clover Health Investments will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clover Health Investments

Institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in shares of Clover Health Investments by 4.6% in the 2nd quarter. AQR Capital Management LLC now owns 729,706 shares of the company's stock worth $898,000 after purchasing an additional 32,288 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Clover Health Investments by 220.7% during the second quarter. Squarepoint Ops LLC now owns 130,352 shares of the company's stock valued at $160,000 after purchasing an additional 238,329 shares during the period. Marshall Wace LLP purchased a new stake in Clover Health Investments in the second quarter worth about $55,000. Canada Pension Plan Investment Board bought a new position in shares of Clover Health Investments in the second quarter worth about $203,000. Finally, XTX Topco Ltd purchased a new position in shares of Clover Health Investments during the 2nd quarter valued at about $932,000. 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.