Clover Health Investments (NASDAQ:CLOV) Shares Up 4% – Here’s Why

Clover Health Investments, Corp. (NASDAQ:CLOV) traded up 4% on Monday . The company traded as high as $4.24 and last traded at $4.16. 1,550,396 shares were traded during trading, a decline of 81% from the average session volume of 8,079,142 shares. The stock had previously closed at $4.00.

Wall Street Analysts Forecast Growth

Separately, UBS Group began coverage on shares of Clover Health Investments in a research report on Monday, October 7th. They issued a “neutral” rating and a $4.00 price objective for the company.

Clover Health Investments Trading Up 1.3 %

The company has a fifty day moving average price of $3.14 and a two-hundred day moving average price of $1.84. The firm has a market cap of $2.01 billion, a P/E ratio of -12.18 and a beta of 2.13.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings results on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $338.70 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. As a group, sell-side analysts expect that Clover Health Investments, Corp. will post -0.13 EPS for the current year.

Institutional Trading of Clover Health Investments

A number of institutional investors have recently modified their holdings of CLOV. Allspring Global Investments Holdings LLC increased its position in shares of Clover Health Investments by 151.2% in the first 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 during the last quarter. Jupiter Asset Management Ltd. grew its holdings in Clover Health Investments by 18.1% during the first quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company’s stock worth $3,593,000 after purchasing an additional 692,878 shares during the period. Bayesian Capital Management LP acquired a new position in Clover Health Investments during the first quarter worth approximately $142,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Clover Health Investments in the first quarter valued at approximately $91,000. Finally, Jaffetilchin Investment Partners LLC boosted its stake in shares of Clover Health Investments by 30.2% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock worth $39,000 after acquiring an additional 11,550 shares during the period. 19.77% of the stock is currently owned by 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.