Clover Health Investments (NASDAQ:CLOV) Shares Down 2.8% – What’s Next?

Clover Health Investments, Corp. (NASDAQ:CLOV)’s stock price fell 2.8% during mid-day trading on Tuesday . The company traded as low as $3.17 and last traded at $3.18. 855,419 shares changed hands during trading, a decline of 89% from the average session volume of 7,693,964 shares. The stock had previously closed at $3.27.

Analyst Upgrades and Downgrades

CLOV has been the topic of a number of research reports. UBS Group assumed 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. Craig Hallum began coverage on Clover Health Investments in a research note on Tuesday, December 17th. They issued a “buy” rating and a $6.00 target price on the stock.

Clover Health Investments Stock Down 2.4 %

The stock has a market cap of $1.60 billion, a P/E ratio of -15.95 and a beta of 1.94. The firm’s 50-day moving average is $3.52 and its two-hundred day moving average is $2.73.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. The business had revenue of $330.99 million during the quarter, compared to analyst estimates of $347.60 million. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. During the same quarter in the previous year, the business earned ($0.09) EPS. Analysts anticipate that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Clover Health Investments

Several large investors have recently made changes to their positions in the stock. Viewpoint Capital Management LLC lifted its holdings in Clover Health Investments by 96.8% in the 2nd 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 last quarter. Choreo LLC bought a new position in shares of Clover Health Investments in the second quarter valued at approximately $344,000. Headlands Technologies LLC acquired a new stake in shares of Clover Health Investments in the second quarter worth $199,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Clover Health Investments by 54.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock worth $42,000 after buying an additional 12,104 shares during the period. Finally, XTX Topco Ltd acquired a new position in Clover Health Investments in the 2nd quarter valued at $932,000. Institutional investors own 19.77% of the company’s stock.

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.