Clover Health Investments (NASDAQ:CLOV) Sets New 12-Month High at $4.02

Clover Health Investments, Corp. (NASDAQ:CLOV) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $4.02 and last traded at $3.86, with a volume of 10742237 shares. The stock had previously closed at $3.59.

Clover Health Investments Trading Up 10.9 %

The stock’s fifty day moving average price is $2.61 and its 200-day moving average price is $1.56. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -11.50 and a beta of 2.13.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $356.26 million during the quarter, compared to the consensus estimate of $338.70 million. Clover Health Investments had a negative net margin of 7.30% and a negative return on equity of 36.55%. During the same quarter last year, the firm earned ($0.06) EPS. Analysts predict that Clover Health Investments, Corp. will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Clover Health Investments during the third quarter worth $252,000. AQR Capital Management LLC raised its stake in Clover Health Investments by 4.6% in the second quarter. AQR Capital Management LLC now owns 729,706 shares of the company’s stock valued at $898,000 after buying an additional 32,288 shares in the last quarter. Squarepoint Ops LLC raised its stake in Clover Health Investments by 220.7% in the second quarter. Squarepoint Ops LLC now owns 130,352 shares of the company’s stock valued at $160,000 after buying an additional 238,329 shares in the last quarter. Marshall Wace LLP acquired a new stake in Clover Health Investments in the second quarter valued at $55,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Clover Health Investments during the second quarter worth about $203,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

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.