Clover Health Investments (NASDAQ:CLOV) Trading Up 10.2% – What’s Next?

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) rose 10.2% during mid-day trading on Wednesday . The stock traded as high as $3.59 and last traded at $3.6150. Approximately 7,776,257 shares traded hands during mid-day trading, an increase of 30% from the average daily volume of 5,987,013 shares. The stock had previously closed at $3.28.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Leerink Partners lowered their price objective on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a research report on Thursday, March 5th. Finally, Canaccord Genuity Group reduced their target price on shares of Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a research report on Friday, March 20th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.90.

Clover Health Investments Trading Up 8.2%

The stock has a fifty day simple moving average of $2.15 and a two-hundred day simple moving average of $2.40. The firm has a market cap of $1.86 billion, a PE ratio of -29.58 and a beta of 2.44.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $749.19 million during the quarter, compared to analysts’ expectations of $714.89 million. Clover Health Investments had a negative return on equity of 16.52% and a negative net margin of 2.58%. As a group, sell-side analysts predict that Clover Health Investments, Corp. will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Clover Health Investments

In other Clover Health Investments news, CEO Brady Patrick Priest sold 175,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $2.17, for a total transaction of $379,750.00. Following the sale, the chief executive officer owned 1,998,584 shares in the company, valued at $4,336,927.28. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 23.51% of the company’s stock.

Institutional Investors Weigh In On Clover Health Investments

Several institutional investors have recently bought and sold shares of the stock. Forum Financial Management LP increased its position in Clover Health Investments by 8.7% during the 3rd quarter. Forum Financial Management LP now owns 37,237 shares of the company’s stock valued at $114,000 after purchasing an additional 2,990 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Clover Health Investments by 1.2% during the third quarter. Alliancebernstein L.P. now owns 415,985 shares of the company’s stock valued at $1,273,000 after purchasing an additional 5,085 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Clover Health Investments by 8.2% in the fourth quarter. ProShare Advisors LLC now owns 74,700 shares of the company’s stock worth $176,000 after acquiring an additional 5,660 shares in the last quarter. Swiss Life Asset Management Ltd boosted its stake in Clover Health Investments by 53.5% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 17,002 shares of the company’s stock worth $52,000 after purchasing an additional 5,926 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Clover Health Investments by 218.9% during the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after buying an additional 6,527 shares during the last quarter. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

About Clover Health Investments

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.