Short Interest in Clover Health Investments, Corp. (NASDAQ:CLOV) Decreases By 7.1%

Clover Health Investments, Corp. (NASDAQ:CLOV) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 15,280,000 shares, a drop of 7.1% from the November 15th total of 16,440,000 shares. Based on an average daily trading volume, of 7,210,000 shares, the short-interest ratio is presently 2.1 days.

Analyst Upgrades and Downgrades

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

Clover Health Investments Stock Performance

Clover Health Investments stock traded up $0.09 during mid-day trading on Tuesday, reaching $3.21. The company’s stock had a trading volume of 2,853,958 shares, compared to its average volume of 7,755,970. The company has a market capitalization of $1.61 billion, a P/E ratio of -15.95 and a beta of 1.94. The firm’s fifty day moving average price is $3.64 and its two-hundred day moving average price is $2.64. Clover Health Investments has a 12-month low of $0.61 and a 12-month high of $4.71.

Clover Health Investments (NASDAQ:CLOV) last announced its earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share for the quarter, topping 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 analyst estimates of $347.60 million. During the same period in the prior year, the company earned ($0.09) EPS. On average, research analysts predict that Clover Health Investments will post -0.12 EPS for the current fiscal year.

Institutional Trading of Clover Health Investments

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in shares of Clover Health Investments by 21.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company’s stock valued at $13,622,000 after acquiring an additional 868,501 shares during the last quarter. State Street Corp lifted its position in Clover Health Investments by 65.0% in the third quarter. State Street Corp now owns 2,189,380 shares of the company’s stock valued at $6,174,000 after purchasing an additional 862,621 shares during the last quarter. XTX Topco Ltd bought a new stake in Clover Health Investments in the second quarter valued at approximately $932,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Clover Health Investments by 75.7% in 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Clover Health Investments during the third quarter worth about $1,228,000. 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.