Clover Health Investments, Corp. (NASDAQ:CLOV) Short Interest Update

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 18,330,000 shares, a growth 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 short-interest ratio is currently 1.9 days.

Wall Street Analysts Forecast Growth

Separately, 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 target for the company.

Institutional Trading of Clover Health Investments

Several large investors have recently added to or reduced their stakes in the stock. Forum Financial Management LP lifted its position in shares of Clover Health Investments by 33.8% in the 3rd quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock worth $45,000 after purchasing an additional 4,061 shares during the period. Bleakley Financial Group LLC raised its stake in Clover Health Investments by 98.9% in the third quarter. Bleakley Financial Group LLC now owns 20,090 shares of the company’s stock worth $57,000 after buying an additional 9,988 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Clover Health Investments in the third quarter worth about $28,000. Sigma Planning Corp bought a new stake in Clover Health Investments during the 3rd quarter valued at approximately $29,000. Finally, SignalPoint Asset Management LLC grew its holdings in shares of Clover Health Investments by 8.1% during the 3rd quarter. SignalPoint Asset Management LLC now owns 150,684 shares of the company’s stock worth $425,000 after acquiring an additional 11,318 shares during the period. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Trading Down 1.3 %

Clover Health Investments stock opened at $3.04 on Monday. The firm has a market cap of $1.52 billion, a P/E ratio of -15.20 and a beta of 2.03. Clover Health Investments has a 1-year low of $0.61 and a 1-year high of $4.71. The firm has a 50-day moving average of $3.52 and a 200-day moving average of $2.28.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $347.60 million. During the same quarter last year, the business posted ($0.09) EPS. Research analysts forecast that Clover Health Investments will post -0.12 earnings per share 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.