Clover Health Investments (NASDAQ:CLOV) Trading Up 3.5% – What’s Next?

Clover Health Investments, Corp. (NASDAQ:CLOV)’s share price traded up 3.5% during trading on Tuesday . The company traded as high as $3.27 and last traded at $3.23. 697,331 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 7,747,493 shares. The stock had previously closed at $3.12.

Wall Street Analyst Weigh In

CLOV has been the subject of a number of research reports. UBS Group initiated coverage on Clover Health Investments in a report on Monday, October 7th. They set a “neutral” rating and a $4.00 price objective for the company. Craig Hallum assumed coverage on Clover Health Investments in a research report on Tuesday. They set a “buy” rating and a $6.00 price target for the company.

Clover Health Investments Trading Up 3.2 %

The firm’s 50 day simple moving average is $3.64 and its 200-day simple moving average is $2.64. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -15.95 and a beta of 1.94.

Clover Health Investments (NASDAQ:CLOV) last released its earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $347.60 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. As a group, equities research analysts predict that Clover Health Investments, Corp. will post -0.12 earnings per share for the current year.

Institutional Trading of Clover Health Investments

Large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Clover Health Investments in the 3rd quarter valued at about $105,000. Virtu Financial LLC increased its position in Clover Health Investments by 344.5% during the third quarter. Virtu Financial LLC now owns 58,518 shares of the company’s stock worth $165,000 after buying an additional 45,354 shares during the last quarter. Barclays PLC bought a new stake in Clover Health Investments in the third quarter valued at approximately $298,000. Geode Capital Management LLC lifted its position in shares of Clover Health Investments by 21.9% in the third quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company’s stock valued at $13,622,000 after buying an additional 868,501 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Clover Health Investments by 65.0% during the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock worth $6,174,000 after acquiring an additional 862,621 shares during the period. Institutional investors and hedge funds 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.