Clover Health Investments, Corp. (NASDAQ:CLOV) Short Interest Update

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 15,960,000 shares, a growth of 9.0% from the December 15th total of 14,640,000 shares. Based on an average trading volume of 6,180,000 shares, the short-interest ratio is presently 2.6 days.

Clover Health Investments Trading Up 0.2 %

Shares of Clover Health Investments stock traded up $0.01 during mid-day trading on Monday, reaching $4.08. 5,428,788 shares of the stock were exchanged, compared to its average volume of 4,336,139. Clover Health Investments has a fifty-two week low of $0.61 and a fifty-two week high of $4.71. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -20.40 and a beta of 1.95. The firm has a 50-day simple moving average of $3.36 and a 200 day simple moving average of $3.02.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.01. The firm had revenue of $330.99 million during the quarter, compared to analysts' expectations of $347.60 million. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. During the same period last year, the firm posted ($0.09) EPS. On average, research analysts predict that Clover Health Investments will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Clover Health Investments

A number of institutional investors and hedge funds have recently made changes to their positions in CLOV. Geode Capital Management LLC boosted its position in shares of Clover Health Investments by 21.9% during the third quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company's stock worth $13,622,000 after buying an additional 868,501 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Clover Health Investments by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company's stock worth $8,461,000 after acquiring an additional 150,550 shares during the last quarter. State Street Corp grew its stake in shares of Clover Health Investments by 65.0% during the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company's stock worth $6,174,000 after acquiring an additional 862,621 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Clover Health Investments by 75.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company's stock valued at $3,181,000 after purchasing an additional 485,987 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Clover Health Investments in the second quarter worth $932,000. Institutional investors own 19.77% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.