Clover Health Investments Target of Unusually Large Options Trading (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of some unusual options trading activity on Tuesday. Investors bought 29,604 call options on the company. This is an increase of 35% compared to the typical daily volume of 21,958 call options.

Clover Health Investments Price Performance

Shares of Clover Health Investments stock opened at $3.72 on Wednesday. The business has a 50 day moving average price of $4.06 and a 200 day moving average price of $3.61. The company has a market capitalization of $1.86 billion, a P/E ratio of -18.60 and a beta of 1.99. Clover Health Investments has a 1 year low of $0.61 and a 1 year high of $4.87.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CLOV shares. Canaccord Genuity Group upped their target price on shares of Clover Health Investments from $4.20 to $4.50 and gave the company a “buy” rating in a report on Monday. Craig Hallum initiated coverage on shares of Clover Health Investments in a report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price objective on the stock.

Institutional Trading of Clover Health Investments

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jefferies Financial Group Inc. acquired a new position in Clover Health Investments in the 4th quarter valued at $135,000. Mackenzie Financial Corp boosted its position in Clover Health Investments by 211.3% during the 4th quarter. Mackenzie Financial Corp now owns 78,193 shares of the company’s stock worth $246,000 after purchasing an additional 53,076 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Clover Health Investments in the fourth quarter valued at about $226,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Clover Health Investments by 90.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 830,457 shares of the company’s stock valued at $2,616,000 after purchasing an additional 394,881 shares during the period. Finally, Two Sigma Advisers LP acquired a new position in Clover Health Investments in the 4th quarter worth $78,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

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.