Short Interest in Clover Health Investments, Corp. (NASDAQ:CLOV) Decreases By 38.3%

by · The Cerbat Gem

Clover Health Investments, Corp. (NASDAQ:CLOV – Get Free Report) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 15,750,000 shares, a decline of 38.3% from the September 30th total of 25,510,000 shares. Based on an average trading volume of 9,240,000 shares, the short-interest ratio is currently 1.7 days.

Clover Health Investments Stock Up 3.4 %

CLOV traded up $0.13 during midday trading on Friday, hitting $3.92. 3,948,972 shares of the company traded hands, compared to its average volume of 9,476,254. The company’s 50-day moving average is $3.29 and its 200 day moving average is $1.93. Clover Health Investments has a 52 week low of $0.61 and a 52 week high of $4.71. The firm has a market capitalization of $1.95 billion, a PE ratio of -14.52 and a beta of 2.13.

Clover Health Investments (NASDAQ:CLOV – Get Free Report) last issued its earnings results on Monday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.05. The company had revenue of $356.26 million for the quarter, compared to analysts’ expectations of $338.70 million. Clover Health Investments had a negative net margin of 7.30% and a negative return on equity of 36.55%. During the same quarter last year, the company posted ($0.06) earnings per share. On average, sell-side analysts predict that Clover Health Investments will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of Clover Health Investments

A number of hedge funds have recently bought and sold shares of CLOV. Jupiter Asset Management Ltd. grew its stake in shares of Clover Health Investments by 18.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company’s stock valued at $3,593,000 after purchasing an additional 692,878 shares during the period. XTX Topco Ltd purchased a new stake in Clover Health Investments during the second quarter valued at approximately $932,000. AQR Capital Management LLC raised its position in Clover Health Investments by 4.6% in the second quarter. AQR Capital Management LLC now owns 729,706 shares of the company’s stock worth $898,000 after acquiring an additional 32,288 shares during the period. Choreo LLC purchased a new position in shares of Clover Health Investments during the 2nd quarter worth $344,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Clover Health Investments during the 1st quarter valued at $142,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group started coverage on Clover Health Investments in a research note on Monday, October 7th. They set a “neutral” rating and a $4.00 target price on the stock.

Check Out Our Latest Research Report on Clover Health Investments

About Clover Health Investments

(Get Free Report)

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.

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