Clover Health Investments Sees Unusually High Options Volume (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) saw unusually large options trading activity on Friday. Traders acquired 26,744 call options on the company. This is an increase of approximately 222% compared to the average volume of 8,293 call options.

Hedge Funds Weigh In On Clover Health Investments

A number of hedge funds have recently made changes to their positions in the business. Jupiter Asset Management Ltd. raised its stake in shares of Clover Health Investments by 18.1% in the 1st quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company’s stock valued at $3,593,000 after acquiring an additional 692,878 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Clover Health Investments by 2.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 813,695 shares of the company’s stock valued at $879,000 after purchasing an additional 20,813 shares in the last quarter. Swiss National Bank grew its holdings in Clover Health Investments by 1.6% during the 3rd quarter. Swiss National Bank now owns 782,200 shares of the company’s stock valued at $845,000 after purchasing an additional 12,400 shares in the last quarter. Citigroup Inc. grew its holdings in Clover Health Investments by 4,040.8% during the 3rd quarter. Citigroup Inc. now owns 372,421 shares of the company’s stock valued at $402,000 after purchasing an additional 363,427 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Clover Health Investments during the 1st quarter valued at $142,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Trading Up 21.4 %

Shares of CLOV stock opened at $1.25 on Friday. The company’s fifty day simple moving average is $0.90 and its 200-day simple moving average is $0.90. Clover Health Investments has a 52 week low of $0.61 and a 52 week high of $1.63. The company has a market cap of $620.55 million, a PE ratio of -3.68 and a beta of 2.09.

Clover Health Investments (NASDAQ:CLOV) last issued its earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. Clover Health Investments had a negative net margin of 8.63% and a negative return on equity of 48.07%. The business had revenue of $346.92 million for the quarter, compared to the consensus estimate of $316.10 million. Equities research analysts expect that Clover Health Investments will post -0.21 EPS for the current fiscal year.

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.