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

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

Clover Health Investments Price Performance

NASDAQ:CLOV traded down $0.12 during trading hours on Friday, reaching $4.32. 4,853,354 shares of the company traded hands, compared to its average volume of 6,797,569. Clover Health Investments has a 1-year low of $0.61 and a 1-year high of $4.87. The stock has a market cap of $2.16 billion, a P/E ratio of -21.60 and a beta of 1.99. The firm's 50-day moving average is $3.68 and its 200-day moving average is $3.29.

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

Analyst Upgrades and Downgrades

Separately, Craig Hallum assumed coverage on shares of Clover Health Investments in a report on Tuesday, December 17th. They set a "buy" rating and a $6.00 target price for the company.

Institutional Trading of Clover Health Investments

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 868,501 shares during the last quarter. State Street Corp boosted its stake in Clover Health Investments by 65.0% in the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company's stock worth $6,174,000 after buying an additional 862,621 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Clover Health Investments by 75.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company's stock valued at $3,181,000 after buying an additional 485,987 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Clover Health Investments during the 3rd quarter valued at about $1,228,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Clover Health Investments during the 3rd quarter worth about $735,000. Institutional investors and hedge funds own 19.77% of the company's stock.

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.