Clover Health Investments (NASDAQ:CLOV) Stock Price Down 2.7%

Clover Health Investments, Corp. (NASDAQ:CLOV) dropped 2.7% during trading on Monday . The company traded as low as $3.19 and last traded at $3.25. Approximately 1,515,310 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 7,874,564 shares. The stock had previously closed at $3.34.

Clover Health Investments Price Performance

The stock has a market capitalization of $1.64 billion, a PE ratio of -9.71 and a beta of 2.10. The company’s 50 day moving average price is $1.77 and its two-hundred day moving average price is $1.18.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The firm had revenue of $356.26 million for the quarter, compared to the consensus estimate of $338.70 million. Clover Health Investments had a negative return on equity of 48.07% and a negative net margin of 8.63%. During the same quarter last year, the business posted ($0.06) earnings per share. Analysts forecast that Clover Health Investments, Corp. will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On Clover Health Investments

Hedge funds and other institutional investors have recently bought and sold shares of the company. Viewpoint Capital Management LLC grew its stake in shares of Clover Health Investments by 96.8% in the 2nd quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock valued at $38,000 after buying an additional 15,000 shares during the period. Jaffetilchin Investment Partners LLC lifted its stake in Clover Health Investments by 30.2% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock worth $39,000 after acquiring an additional 11,550 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake 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 acquiring an additional 12,104 shares in the last quarter. Marshall Wace LLP purchased a new position in Clover Health Investments during the 2nd quarter valued at about $55,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of 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 purchasing an additional 46,912 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors and hedge funds.

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.