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

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) was the recipient of some unusual options trading on Thursday. Investors acquired 52,433 call options on the stock. This represents an increase of approximately 92% compared to the average daily volume of 27,279 call options.

Clover Health Investments Trading Down 1.9 %

NASDAQ:CLOV traded down $0.08 during trading hours on Thursday, hitting $4.18. 17,336,958 shares of the stock were exchanged, compared to its average volume of 8,100,469. The firm's fifty day moving average price is $3.05 and its 200 day moving average price is $1.79. The company has a market cap of $2.08 billion, a P/E ratio of -13.06 and a beta of 2.13. Clover Health Investments has a 52-week low of $0.61 and a 52-week high of $4.71.

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

Analyst Ratings Changes

Separately, UBS Group began coverage on Clover Health Investments in a research note on Monday, October 7th. They issued a "neutral" rating and a $4.00 price target for the company.

Institutional Investors Weigh In On Clover Health Investments

A number of large investors have recently made changes to their positions in the stock. Jupiter Asset Management Ltd. grew its position in shares of Clover Health Investments by 18.1% in the first quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company's stock valued at $3,593,000 after purchasing an additional 692,878 shares in the last quarter. XTX Topco Ltd acquired a new position in Clover Health Investments in the second quarter valued at approximately $932,000. AQR Capital Management LLC lifted its holdings in Clover Health Investments by 4.6% in the second quarter. AQR Capital Management LLC now owns 729,706 shares of the company's stock valued at $898,000 after acquiring an additional 32,288 shares during the last quarter. Choreo LLC acquired a new position in Clover Health Investments in the second quarter valued at approximately $344,000. Finally, Bayesian Capital Management LP acquired a new position in Clover Health Investments during the first quarter worth $142,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

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.