Clover Health Investments (NASDAQ:CLOV) Shares Up 4.4% – Here’s What Happened

Clover Health Investments, Corp. (NASDAQ:CLOV)’s share price rose 4.4% during trading on Monday . The stock traded as high as $3.94 and last traded at $3.80. Approximately 2,532,523 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 5,176,259 shares. The stock had previously closed at $3.64.

Analyst Ratings Changes

A number of analysts have issued reports on the company. UBS Group started coverage on Clover Health Investments in a research report on Monday, October 7th. They issued a “neutral” rating and a $4.00 target price for the company. Craig Hallum began coverage on shares of Clover Health Investments in a research note on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target on the stock.

Clover Health Investments Trading Up 0.5 %

The firm has a market cap of $1.87 billion, a PE ratio of -18.70 and a beta of 1.95. The business has a fifty day moving average of $3.34 and a 200-day moving average of $2.96.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. The company had revenue of $330.99 million during the quarter, compared to analysts’ expectations of $347.60 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. On average, equities analysts forecast that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

Institutional Trading of Clover Health Investments

A number of large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Clover Health Investments during the 3rd quarter valued at $1,228,000. Graypoint LLC purchased a new stake in Clover Health Investments during the fourth quarter valued at about $632,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Clover Health Investments by 75.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock worth $3,181,000 after purchasing an additional 485,987 shares during the last quarter. State Street Corp boosted its holdings in shares of Clover Health Investments by 65.0% in the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock worth $6,174,000 after purchasing an additional 862,621 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Clover Health Investments during the 3rd quarter valued at about $477,000. 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.