Stock Traders Buy Large Volume of Call Options on Clover Health Investments (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) saw unusually large options trading on Thursday. Stock investors purchased 62,471 call options on the company. This represents an increase of approximately 101% compared to the typical volume of 31,074 call options.

Institutional Investors Weigh In On Clover Health Investments

Several institutional investors have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC bought a new stake in Clover Health Investments during the third quarter worth $28,000. Sigma Planning Corp acquired a new position in shares of Clover Health Investments during the third quarter worth $29,000. Viewpoint Capital Management LLC increased its holdings in shares of Clover Health Investments by 96.8% during the second quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock worth $38,000 after buying an additional 15,000 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its holdings in Clover Health Investments by 30.2% in 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 period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Clover Health Investments by 54.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock valued at $42,000 after purchasing an additional 12,104 shares during the period. 19.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group began coverage on Clover Health Investments in a report on Monday, October 7th. They set a “neutral” rating and a $4.00 price objective for the company.

Clover Health Investments Trading Down 7.1 %

Shares of CLOV stock opened at $3.41 on Friday. The stock has a market cap of $1.70 billion, a P/E ratio of -12.89 and a beta of 2.03. The stock has a 50 day simple moving average of $3.45 and a 200 day simple moving average of $2.15. Clover Health Investments has a 1 year low of $0.61 and a 1 year high of $4.71.

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.