Clover Health Investments, Corp. (NASDAQ:CLOV) Short Interest Up 9.0% in December

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 15,960,000 shares, a growth of 9.0% from the December 15th total of 14,640,000 shares. Based on an average trading volume of 6,180,000 shares, the short-interest ratio is currently 2.6 days.

Wall Street Analyst Weigh In

Several research firms have issued reports on CLOV. Craig Hallum started coverage on shares of Clover Health Investments in a report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target for the company. UBS Group started coverage on shares of Clover Health Investments in a research note on Monday, October 7th. They set a “neutral” rating and a $4.00 target price for the company.

Clover Health Investments Price Performance

Shares of Clover Health Investments stock opened at $4.08 on Tuesday. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -20.40 and a beta of 1.95. The stock’s 50-day moving average is $3.36 and its 200 day moving average is $3.02. Clover Health Investments has a one year low of $0.61 and a one year high of $4.71.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $330.99 million for the quarter, compared to analysts’ expectations of $347.60 million. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. During the same period in the prior year, the business earned ($0.09) EPS. On average, sell-side analysts expect that Clover Health Investments will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Clover Health Investments

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Forum Financial Management LP grew its stake in shares of Clover Health Investments by 33.8% in the 3rd quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock valued at $45,000 after buying an additional 4,061 shares during the period. Steph & Co. boosted its holdings in Clover Health Investments by 33.3% in the fourth quarter. Steph & Co. now owns 20,000 shares of the company’s stock worth $63,000 after acquiring an additional 5,000 shares in the last quarter. SignalPoint Asset Management LLC grew its stake in Clover Health Investments by 6.2% in the fourth quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company’s stock valued at $504,000 after acquiring an additional 9,390 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Clover Health Investments by 98.9% during the third quarter. Bleakley Financial Group LLC now owns 20,090 shares of the company’s stock valued at $57,000 after acquiring an additional 9,988 shares in the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of Clover Health Investments during the third quarter worth approximately $28,000. 19.77% of the stock is owned by 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.