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

Clover Health Investments, Corp. (NASDAQ:CLOV) saw unusually large options trading on Friday. Investors acquired 39,909 call options on the stock. This is an increase of approximately 47% compared to the average volume of 27,120 call options.

Institutional Trading of Clover Health Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC acquired a new position in Clover Health Investments in the third quarter valued at about $28,000. Sigma Planning Corp acquired a new position in shares of Clover Health Investments in the 3rd quarter valued at approximately $29,000. Parallax Volatility Advisers L.P. bought a new stake in Clover Health Investments during the 3rd quarter worth approximately $38,000. Vanguard Personalized Indexing Management LLC raised its holdings in Clover Health Investments by 54.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock worth $42,000 after buying an additional 12,104 shares during the period. Finally, Realta Investment Advisors bought a new position in Clover Health Investments in the third quarter valued at approximately $44,000. 19.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CLOV. Craig Hallum initiated coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They set a “buy” rating and a $6.00 target price on the stock. UBS Group assumed coverage on shares of Clover Health Investments in a report on Monday, October 7th. They issued a “neutral” rating and a $4.00 target price on the stock.

Clover Health Investments Stock Performance

Shares of CLOV opened at $4.82 on Friday. The stock has a fifty day moving average price of $3.45 and a two-hundred day moving average price of $3.08. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -24.10 and a beta of 1.95. Clover Health Investments has a 52-week low of $0.61 and a 52-week high of $4.87.

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