Clover Health Investments (NASDAQ:CLOV) Trading Up 6.1%

Clover Health Investments, Corp. (NASDAQ:CLOV)’s stock price was up 6.1% during mid-day trading on Wednesday . The company traded as high as $2.97 and last traded at $2.95. Approximately 2,714,930 shares changed hands during trading, a decline of 65% from the average daily volume of 7,823,196 shares. The stock had previously closed at $2.78.

Clover Health Investments Stock Performance

The company has a market capitalization of $1.78 billion, a PE ratio of -10.35 and a beta of 2.13. The company’s fifty day moving average is $2.57 and its 200-day moving average is $1.55.

Clover Health Investments (NASDAQ:CLOV) last issued its earnings results on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. The company 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 in the prior year, the firm posted ($0.06) EPS. On average, sell-side analysts expect that Clover Health Investments, Corp. will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Clover Health Investments

Several hedge funds have recently modified their holdings of the stock. Viewpoint Capital Management LLC increased its stake 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 acquiring an additional 15,000 shares during the last quarter. Jaffetilchin Investment Partners LLC lifted its position in Clover Health Investments by 30.2% during the first quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock valued at $39,000 after purchasing an additional 11,550 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Clover Health Investments by 54.4% in 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 in the last quarter. Marshall Wace LLP bought a new stake in shares of Clover Health Investments in the 2nd quarter worth about $55,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Clover Health Investments by 151.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 77,948 shares of the company’s stock valued at $62,000 after buying an additional 46,912 shares in the last quarter. Hedge funds and other institutional investors 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.