Clover Health Investments, Corp. (NASDAQ:CLOV) Short Interest Update

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 18,330,000 shares, a growth of 16.4% from the October 15th total of 15,750,000 shares. Based on an average trading volume of 9,770,000 shares, the days-to-cover ratio is presently 1.9 days.

Hedge Funds Weigh In On Clover Health Investments

Large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Clover Health Investments by 21.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company’s stock worth $13,622,000 after purchasing an additional 868,501 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of Clover Health Investments by 18.1% during the first quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company’s stock worth $3,593,000 after acquiring an additional 692,878 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Clover Health Investments by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company’s stock worth $8,461,000 after acquiring an additional 150,550 shares during the last quarter. State Street Corp boosted its stake in shares of Clover Health Investments by 65.0% in the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock valued at $6,174,000 after purchasing an additional 862,621 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Clover Health Investments by 75.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock valued at $3,181,000 after purchasing an additional 485,987 shares during the last quarter. 19.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Clover Health Investments Trading Down 1.3 %

Shares of Clover Health Investments stock opened at $3.04 on Monday. Clover Health Investments has a 12 month low of $0.61 and a 12 month high of $4.71. The business’s fifty day simple moving average is $3.52 and its 200 day simple moving average is $2.28. The firm has a market capitalization of $1.52 billion, a P/E ratio of -15.20 and a beta of 2.03.

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

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.