Clover Health Investments (NASDAQ:CLOV) Trading Up 5.9%

Clover Health Investments (NASDAQ:CLOV) Trading Up 5.9%

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV – Get Free Report) shot up 5.9% during trading on Tuesday . The stock traded as high as $1.88 and last traded at $1.88. 258,196 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 7,410,970 shares. The stock had previously closed at $1.77.

Clover Health Investments Stock Performance

The stock has a market capitalization of $953.16 million, a P/E ratio of -5.62 and a beta of 2.11. The firm’s fifty day simple moving average is $1.27 and its 200 day simple moving average is $0.99.

Clover Health Investments (NASDAQ:CLOV – Get Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. Clover Health Investments had a negative net margin of 8.63% and a negative return on equity of 48.07%. The firm had revenue of $346.92 million for the quarter, compared to analyst estimates of $316.10 million. Analysts anticipate that Clover Health Investments, Corp. will post -0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clover Health Investments

A number of hedge funds have recently made changes to their positions in CLOV. Jaffetilchin Investment Partners LLC boosted its stake in shares of Clover Health Investments by 30.2% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock valued at $39,000 after purchasing an additional 11,550 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Clover Health Investments by 151.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 77,948 shares of the company’s stock valued at $62,000 after acquiring an additional 46,912 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Clover Health Investments by 68.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,444 shares of the company’s stock valued at $72,000 after acquiring an additional 30,776 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Clover Health Investments in the 1st quarter valued at $91,000. Finally, SignalPoint Asset Management LLC increased its stake in shares of Clover Health Investments by 40.3% in the 1st quarter. SignalPoint Asset Management LLC now owns 139,366 shares of the company’s stock valued at $111,000 after acquiring an additional 40,000 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors and hedge funds.

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.

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