Clover Health Investments, Corp. (NASDAQ:CLOV) Short Interest Down 7.1% in November

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 15,280,000 shares, a decline of 7.1% from the November 15th total of 16,440,000 shares. Based on an average daily trading volume, of 7,210,000 shares, the short-interest ratio is presently 2.1 days.

Analyst Upgrades and Downgrades

CLOV has been the subject of several research analyst reports. UBS Group assumed coverage on Clover Health Investments in a report on Monday, October 7th. They issued a “neutral” rating and a $4.00 price objective for the company. Craig Hallum began coverage on shares of Clover Health Investments in a research note on Tuesday. They issued a “buy” rating and a $6.00 price objective for the company.

Institutional Investors Weigh In On Clover Health Investments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Clover Health Investments by 21.9% during 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 during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Clover Health Investments by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company’s stock worth $8,461,000 after purchasing an additional 150,550 shares during the last quarter. State Street Corp increased its stake in Clover Health Investments by 65.0% in the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock worth $6,174,000 after buying an additional 862,621 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in 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 buying an additional 485,987 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Clover Health Investments in the second quarter valued at approximately $932,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Clover Health Investments Stock Performance

Shares of NASDAQ CLOV opened at $3.21 on Wednesday. The company has a market cap of $1.61 billion, a P/E ratio of -16.05 and a beta of 1.94. Clover Health Investments has a 52-week low of $0.61 and a 52-week high of $4.71. The firm’s fifty day moving average is $3.63 and its two-hundred day moving average is $2.65.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings data 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. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. The business had revenue of $330.99 million for the quarter, compared to analysts’ expectations of $347.60 million. During the same period in the prior year, the firm earned ($0.09) EPS. As a group, analysts forecast 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.