Clover Health Investments, Corp. (NASDAQ:CLOV) Short Interest Up 9.0% in December

Clover Health Investments, Corp. (NASDAQ:CLOV) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 15,960,000 shares, a growth of 9.0% from the December 15th total of 14,640,000 shares. Based on an average trading volume of 6,180,000 shares, the short-interest ratio is currently 2.6 days.

Analysts Set New Price Targets

Several brokerages have commented on CLOV. Craig Hallum started coverage on shares of Clover Health Investments in a research note on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price target on the stock. UBS Group started coverage on Clover Health Investments in a research report on Monday, October 7th. They issued a “neutral” rating and a $4.00 target price on the stock.

Clover Health Investments Stock Performance

CLOV stock opened at $4.08 on Monday. The firm has a fifty day moving average price of $3.36 and a 200 day moving average price of $3.01. Clover Health Investments has a fifty-two week low of $0.61 and a fifty-two week high of $4.71. The firm has a market cap of $2.04 billion, a PE ratio of -20.40 and a beta of 1.95.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $330.99 million during the quarter, compared to analysts’ expectations 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 period last year, the company posted ($0.09) EPS. On average, equities analysts predict that Clover Health Investments will post -0.12 EPS for the current year.

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. Concurrent Investment Advisors LLC bought a new position in shares of Clover Health Investments during the 3rd quarter valued at approximately $28,000. Sigma Planning Corp purchased a new position in Clover Health Investments during the third quarter worth $29,000. Parallax Volatility Advisers L.P. bought a new position in Clover Health Investments during the third quarter valued at $38,000. Realta Investment Advisors purchased a new stake in shares of Clover Health Investments in the third quarter valued at $44,000. Finally, Forum Financial Management LP lifted its holdings in shares of Clover Health Investments by 33.8% in the 3rd quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock worth $45,000 after acquiring an additional 4,061 shares during the last quarter. 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.