Short Interest in Clover Health Investments, Corp. (NASDAQ:CLOV) Decreases By 8.2%

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 15,080,000 shares, a drop of 8.2% from the January 15th total of 16,420,000 shares. Based on an average daily volume of 6,160,000 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

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

Clover Health Investments Stock Performance

CLOV traded down $0.05 during mid-day trading on Tuesday, reaching $4.42. The stock had a trading volume of 3,497,998 shares, compared to its average volume of 6,148,105. The stock has a market capitalization of $2.21 billion, a P/E ratio of -22.07 and a beta of 1.99. The firm’s fifty day simple moving average is $3.85 and its two-hundred day simple moving average is $3.46. Clover Health Investments has a 52 week low of $0.61 and a 52 week high of $4.87.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Concurrent Investment Advisors LLC bought a new position in shares of Clover Health Investments in the 3rd quarter worth $28,000. Sigma Planning Corp bought a new position in shares of Clover Health Investments in the 3rd quarter worth $29,000. Parallax Volatility Advisers L.P. bought a new position in shares of Clover Health Investments in the 3rd quarter worth $38,000. Realta Investment Advisors bought a new position in shares of Clover Health Investments in the 3rd quarter worth $44,000. Finally, Forum Financial Management LP boosted its position in shares of 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 last quarter. 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.