Clover Health Investments, Corp. (NASDAQ:CLOV) Sees Significant Growth in Short Interest

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 18,330,000 shares, an increase of 16.4% from the October 15th total of 15,750,000 shares. Based on an average daily volume of 9,770,000 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Ratings Changes

Separately, UBS Group began coverage on shares of Clover Health Investments in a research note on Monday, October 7th. They issued a “neutral” rating and a $4.00 price target on the stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC bought a new position in Clover Health Investments during the third quarter valued at about $28,000. Sigma Planning Corp acquired a new position in shares of Clover Health Investments in the third quarter valued at $29,000. Viewpoint Capital Management LLC lifted its position in Clover Health Investments by 96.8% in the second quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock worth $38,000 after purchasing an additional 15,000 shares during the period. Parallax Volatility Advisers L.P. acquired a new stake in Clover Health Investments during the third quarter worth $38,000. Finally, Jaffetilchin Investment Partners LLC increased its holdings in Clover Health Investments by 30.2% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock valued at $39,000 after buying an additional 11,550 shares during the period. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Stock Performance

Shares of Clover Health Investments stock traded down $0.04 during trading on Friday, hitting $3.04. 5,291,003 shares of the stock traded hands, compared to its average volume of 8,060,470. The stock has a market cap of $1.52 billion, a P/E ratio of -15.20 and a beta of 2.03. The company has a fifty day moving average price of $3.52 and a two-hundred day moving average price of $2.27. Clover Health Investments has a twelve month low of $0.61 and a twelve month high of $4.71.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) earnings per share for the quarter, beating 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 the consensus estimate of $347.60 million. During the same period last year, the business earned ($0.09) EPS. On average, equities research analysts expect that Clover Health Investments will post -0.12 EPS for the current fiscal year.

About Clover Health Investments

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.