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

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 18,330,000 shares, an increase of 16.4% from the October 15th total of 15,750,000 shares. Based on an average daily trading volume, of 9,770,000 shares, the short-interest ratio is presently 1.9 days.

Hedge Funds Weigh In On Clover Health Investments

Several institutional investors have recently modified their holdings of CLOV. Jupiter Asset Management Ltd. lifted its stake in 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 buying an additional 692,878 shares in the last quarter. XTX Topco Ltd bought a new stake in Clover Health Investments in the 2nd quarter valued at $932,000. Choreo LLC acquired a new position in Clover Health Investments in the 2nd quarter worth $344,000. Foundations Investment Advisors LLC bought a new position in Clover Health Investments during the 3rd quarter worth about $55,000. Finally, Marshall Wace LLP acquired a new stake in shares of Clover Health Investments in the 2nd quarter valued at about $55,000. Institutional investors own 19.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group initiated coverage on Clover Health Investments in a research note on Monday, October 7th. They issued a “neutral” rating and a $4.00 price target on the stock.

Clover Health Investments Stock Down 1.3 %

NASDAQ:CLOV traded down $0.04 during mid-day trading on Friday, reaching $3.04. 5,291,003 shares of the company were exchanged, compared to its average volume of 8,060,470. The stock has a market cap of $1.52 billion, a PE ratio of -15.20 and a beta of 2.03. Clover Health Investments has a 12 month low of $0.61 and a 12 month high of $4.71. The company has a fifty day moving average of $3.52 and a 200 day moving average of $2.27.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $330.99 million for the quarter, compared to analysts’ expectations of $347.60 million. During the same quarter last year, the business earned ($0.09) earnings per share. On average, equities research analysts anticipate that Clover Health Investments will post -0.12 EPS for the current fiscal year.

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.