Clover Health Investments (NASDAQ:CLOV) Shares Up 4.4% – What’s Next?

Clover Health Investments, Corp. (NASDAQ:CLOV)’s share price shot up 4.4% on Monday . The stock traded as high as $3.94 and last traded at $3.80. 2,532,523 shares changed hands during trading, a decline of 51% from the average session volume of 5,176,259 shares. The stock had previously closed at $3.64.

Analysts Set New Price Targets

A number of analysts recently commented on CLOV shares. Craig Hallum initiated coverage on Clover Health Investments in a research note on Tuesday, December 17th. They set a “buy” rating and a $6.00 price objective on the stock. UBS Group started coverage on shares of Clover Health Investments in a research note on Monday, October 7th. They set a “neutral” rating and a $4.00 price target on the stock.

Clover Health Investments Trading Up 3.8 %

The business has a 50 day simple moving average of $3.37 and a two-hundred day simple moving average of $2.93. The company has a market cap of $1.89 billion, a PE ratio of -18.90 and a beta of 1.95.

Clover Health Investments (NASDAQ:CLOV) last released its earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share 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 firm had revenue of $330.99 million for the quarter, compared to the consensus estimate of $347.60 million. During the same period in the prior year, the business posted ($0.09) earnings per share. On average, equities research analysts expect that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clover Health Investments

A number of institutional investors have recently bought and sold shares of CLOV. Geode Capital Management LLC raised its stake in Clover Health Investments by 21.9% during the third 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. State Street Corp increased its holdings in shares of Clover Health Investments by 65.0% during 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 last quarter. XTX Topco Ltd acquired a new stake in shares of Clover Health Investments during the 2nd quarter worth $932,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Clover Health Investments by 75.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock worth $3,181,000 after buying an additional 485,987 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Clover Health Investments in the third quarter valued at $1,228,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

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.