Traders Purchase Large Volume of Clover Health Investments Call Options (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 29,604 call options on the stock. This is an increase of approximately 35% compared to the typical daily volume of 21,958 call options.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CLOV shares. Craig Hallum began coverage on Clover Health Investments in a research note on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price objective for the company. Canaccord Genuity Group increased their price objective on Clover Health Investments from $4.20 to $4.50 and gave the company a “buy” rating in a report on Monday.

Hedge Funds Weigh In On Clover Health Investments

A number of institutional investors and hedge funds have recently made changes to their positions in CLOV. Vanguard Group Inc. raised its stake in shares of Clover Health Investments by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 19,585,213 shares of the company’s stock worth $61,693,000 after buying an additional 386,499 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Clover Health Investments by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,882,461 shares of the company’s stock worth $15,387,000 after buying an additional 53,760 shares during the period. Marshall Wace LLP raised its holdings in Clover Health Investments by 167.6% in the fourth quarter. Marshall Wace LLP now owns 3,769,765 shares of the company’s stock valued at $11,875,000 after buying an additional 2,360,902 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Clover Health Investments by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company’s stock worth $8,461,000 after purchasing an additional 150,550 shares in the last quarter. Finally, State Street Corp grew its position in Clover Health Investments by 65.0% in the third quarter. State Street Corp now owns 2,189,380 shares of the company’s stock valued at $6,174,000 after acquiring an additional 862,621 shares in the last quarter. 19.77% of the stock is owned by institutional investors and hedge funds.

Clover Health Investments Trading Up 4.0 %

Shares of CLOV traded up $0.15 during mid-day trading on Tuesday, hitting $3.79. The company’s stock had a trading volume of 6,525,892 shares, compared to its average volume of 6,192,713. Clover Health Investments has a 1-year low of $0.61 and a 1-year high of $4.87. The firm has a market capitalization of $1.90 billion, a P/E ratio of -18.92 and a beta of 1.99. The firm has a 50-day simple moving average of $4.05 and a 200 day simple moving average of $3.60.

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.