Clover Health Investments (NASDAQ:CLOV) Trading 5.7% Higher – Time to Buy?

Clover Health Investments, Corp. (NASDAQ:CLOV) shares rose 5.7% on Thursday . The company traded as high as $4.57 and last traded at $4.56. Approximately 5,835,989 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 6,653,010 shares. The stock had previously closed at $4.31.

Wall Street Analysts Forecast Growth

CLOV has been the topic of a number of research analyst reports. UBS Group initiated coverage on shares of Clover Health Investments in a research note on Monday, October 7th. They issued a “neutral” rating and a $4.00 target price on the stock. Craig Hallum began coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price target on the stock.

Clover Health Investments Stock Up 8.6 %

The firm’s 50-day moving average price is $3.42 and its 200-day moving average price is $3.07. The company has a market cap of $2.35 billion, a P/E ratio of -23.40 and a beta of 1.95.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $330.99 million for the quarter, compared to analyst estimates 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 firm posted ($0.09) EPS. As a group, analysts forecast that Clover Health Investments, Corp. will post -0.12 earnings per share for the current year.

Institutional Trading of Clover Health Investments

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ballentine Partners LLC bought a new position in shares of Clover Health Investments in the 4th quarter worth $131,000. SignalPoint Asset Management LLC increased its holdings in shares of Clover Health Investments by 6.2% in the 4th quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company’s stock worth $504,000 after buying an additional 9,390 shares during the last quarter. Steph & Co. increased its holdings in shares of Clover Health Investments by 33.3% in the 4th quarter. Steph & Co. now owns 20,000 shares of the company’s stock worth $63,000 after buying an additional 5,000 shares during the last quarter. Graypoint LLC bought a new position in shares of Clover Health Investments in the 4th quarter worth $632,000. Finally, Silverleafe Capital Partners LLC increased its holdings in shares of Clover Health Investments by 182.9% in the 4th quarter. Silverleafe Capital Partners LLC now owns 45,000 shares of the company’s stock worth $142,000 after buying an additional 29,091 shares during the last quarter. Institutional investors own 19.77% of the company’s stock.

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.