Clover Health Investments (NASDAQ:CLOV) Shares Gap Down – Here’s What Happened

Clover Health Investments, Corp. (NASDAQ:CLOV) gapped down prior to trading on Tuesday . The stock had previously closed at $3.64, but opened at $3.46. Clover Health Investments shares last traded at $3.52, with a volume of 1,725,372 shares.

Analyst Ratings Changes

Several brokerages have issued reports on CLOV. Canaccord Genuity Group lifted their target price on shares of Clover Health Investments from $4.20 to $4.50 and gave the stock a “buy” rating in a report on Monday. Craig Hallum assumed coverage on Clover Health Investments in a report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target on the stock.

Clover Health Investments Trading Up 4.5 %

The stock has a market capitalization of $1.91 billion, a PE ratio of -19.22 and a beta of 1.99. The firm has a 50 day moving average price of $4.05 and a 200 day moving average price of $3.60.

Institutional Investors Weigh In On Clover Health Investments

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLOV. Phoenix Financial Ltd. lifted its position in shares of Clover Health Investments by 6.8% in the fourth quarter. Phoenix Financial Ltd. now owns 39,000 shares of the company’s stock valued at $123,000 after acquiring an additional 2,500 shares in the last quarter. Forum Financial Management LP boosted its stake in Clover Health Investments by 33.8% in the 3rd quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock worth $45,000 after purchasing an additional 4,061 shares during the period. Steph & Co. grew its holdings in Clover Health Investments by 33.3% during the 4th quarter. Steph & Co. now owns 20,000 shares of the company’s stock valued at $63,000 after buying an additional 5,000 shares in the last quarter. Parallax Volatility Advisers L.P. raised its position in shares of Clover Health Investments by 47.7% during the fourth quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company’s stock valued at $63,000 after buying an additional 6,408 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Clover Health Investments by 6.3% in the fourth quarter. Arizona State Retirement System now owns 118,265 shares of the company’s stock worth $373,000 after buying an additional 6,990 shares in the last quarter. Institutional investors 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.