Clover Health Investments (NASDAQ:CLOV) Stock Price Down 7.6% – Time to Sell?

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) were down 7.6% during mid-day trading on Friday . The company traded as low as $3.48 and last traded at $3.83. Approximately 4,708,306 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 6,025,113 shares. The stock had previously closed at $4.14.

Analysts Set New Price Targets

Separately, Craig Hallum started coverage on Clover Health Investments in a research note on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price target on the stock.

Clover Health Investments Trading Down 4.1 %

The stock has a market capitalization of $1.99 billion, a PE ratio of -19.85 and a beta of 1.99. The stock has a 50 day moving average price of $4.04 and a 200-day moving average price of $3.59.

Hedge Funds Weigh In On Clover Health Investments

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Clover Health Investments by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 19,585,213 shares of the company’s stock valued at $61,693,000 after purchasing an additional 386,499 shares in the last quarter. Geode Capital Management LLC raised its holdings in Clover Health Investments by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,882,461 shares of the company’s stock valued at $15,387,000 after acquiring an additional 53,760 shares during the period. Marshall Wace LLP increased its holdings in shares of Clover Health Investments by 167.6% in the fourth quarter. Marshall Wace LLP now owns 3,769,765 shares of the company’s stock worth $11,875,000 after purchasing an additional 2,360,902 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Clover Health Investments by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company’s stock worth $8,461,000 after purchasing an additional 150,550 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Clover Health Investments by 65.0% in the third 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 during the last quarter. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

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.