Clover Health Investments Target of Unusually Large Options Trading (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of unusually large options trading activity on Friday. Stock investors purchased 39,909 call options on the stock. This represents an increase of 47% compared to the typical volume of 27,120 call options.

Clover Health Investments Trading Up 3.1 %

Shares of CLOV stock traded up $0.15 during trading hours on Friday, hitting $4.83. 6,582,223 shares of the company were exchanged, compared to its average volume of 6,966,870. The firm has a fifty day simple moving average of $3.45 and a 200 day simple moving average of $3.08. Clover Health Investments has a 52-week low of $0.61 and a 52-week high of $4.87. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -24.08 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, topping 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 analyst estimates of $347.60 million. During the same quarter last year, the business posted ($0.09) EPS. Sell-side analysts anticipate that Clover Health Investments will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ballentine Partners LLC bought a new position in Clover Health Investments in the 4th quarter worth approximately $131,000. SignalPoint Asset Management LLC boosted its holdings in Clover Health Investments by 6.2% in the 4th quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company’s stock worth $504,000 after buying an additional 9,390 shares during the period. Steph & Co. boosted its holdings in Clover Health Investments by 33.3% in the 4th quarter. Steph & Co. now owns 20,000 shares of the company’s stock worth $63,000 after buying an additional 5,000 shares during the period. Graypoint LLC bought a new position in Clover Health Investments in the 4th quarter worth approximately $632,000. Finally, Silverleafe Capital Partners LLC boosted its holdings in Clover Health Investments by 182.9% in the 4th quarter. Silverleafe Capital Partners LLC now owns 45,000 shares of the company’s stock valued at $142,000 after purchasing an additional 29,091 shares during the period. 19.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CLOV. 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 target price on the stock. UBS Group initiated coverage on shares of Clover Health Investments in a report on Monday, October 7th. They set a “neutral” rating and a $4.00 price objective on the 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.