Clover Health Investments (NASDAQ:CLOV) Trading Up 5.7% – Here’s What Happened

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) were up 5.7% during trading on Thursday . The company traded as high as $4.57 and last traded at $4.56. Approximately 5,835,989 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 6,653,010 shares. The stock had previously closed at $4.31.

Wall Street Analysts Forecast Growth

CLOV has been the topic of several analyst reports. Craig Hallum initiated coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target on the stock. UBS Group started coverage on shares of Clover Health Investments in a research note on Monday, October 7th. They set a “neutral” rating and a $4.00 price objective on the stock.

Clover Health Investments Stock Up 3.0 %

The firm has a 50 day moving average price of $3.48 and a two-hundred day moving average price of $3.11. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -24.10 and a beta of 1.95.

Clover Health Investments (NASDAQ:CLOV) last issued 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 firm had revenue of $330.99 million for the quarter, compared to analyst estimates of $347.60 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. On average, equities analysts expect that Clover Health Investments, Corp. will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Clover Health Investments

Several institutional investors have recently bought and sold shares of the stock. Concurrent Investment Advisors LLC bought a new position in Clover Health Investments in the 3rd quarter valued at $28,000. Sigma Planning Corp purchased a new position in shares of Clover Health Investments during the 3rd quarter valued at $29,000. Parallax Volatility Advisers L.P. bought a new position in shares of Clover Health Investments during the 3rd quarter valued at about $38,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Clover Health Investments by 54.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock valued at $42,000 after purchasing an additional 12,104 shares during the last quarter. Finally, Realta Investment Advisors bought a new position in Clover Health Investments during the 3rd quarter worth approximately $44,000. Institutional investors own 19.77% of the company’s stock.

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.