Clover Health Investments (NASDAQ:CLOV) Trading Up 5.5%

Clover Health Investments, Corp. (NASDAQ:CLOV) shares were up 5.5% during mid-day trading on Monday . The company traded as high as $1.34 and last traded at $1.34. Approximately 877,004 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 7,831,764 shares. The stock had previously closed at $1.27.

Clover Health Investments Price Performance

The firm has a 50-day simple moving average of $1.05 and a 200 day simple moving average of $0.93. The stock has a market capitalization of $665.23 million, a P/E ratio of -3.91 and a beta of 2.11.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share (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 during the quarter, compared to analyst estimates of $316.10 million. Sell-side analysts anticipate that Clover Health Investments, Corp. will post -0.21 earnings per share for the current fiscal year.

Institutional Trading of Clover Health Investments

Institutional investors have recently modified their holdings of the business. Jaffetilchin Investment Partners LLC grew its position in shares of Clover Health Investments by 30.2% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock valued at $39,000 after buying an additional 11,550 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Clover Health Investments by 151.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 77,948 shares of the company’s stock valued at $62,000 after acquiring an additional 46,912 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Clover Health Investments by 68.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,444 shares of the company’s stock valued at $72,000 after purchasing an additional 30,776 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Clover Health Investments during the 1st quarter worth approximately $91,000. Finally, SignalPoint Asset Management LLC lifted its position in shares of Clover Health Investments by 40.3% in the 1st quarter. SignalPoint Asset Management LLC now owns 139,366 shares of the company’s stock worth $111,000 after purchasing an additional 40,000 shares during the period. Institutional investors own 19.77% of the company’s stock.

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.