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

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of a large decline in short interest in 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 volume of 7,210,000 shares, the short-interest ratio is presently 2.1 days.

Institutional Investors Weigh In On Clover Health Investments

A number of institutional investors have recently made changes to their positions in CLOV. Viewpoint Capital Management LLC lifted its holdings in shares of Clover Health Investments by 96.8% during the second quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock valued at $38,000 after purchasing an additional 15,000 shares in the last quarter. Choreo LLC bought a new position in Clover Health Investments during the 2nd quarter valued at about $344,000. Headlands Technologies LLC purchased a new stake in shares of Clover Health Investments during the 2nd quarter valued at about $199,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of Clover Health Investments by 54.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock worth $42,000 after acquiring an additional 12,104 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Clover Health Investments during the second quarter valued at approximately $932,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. 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 price target for the company. Craig Hallum began coverage on Clover Health Investments in a research report on Tuesday. They set a “buy” rating and a $6.00 price target on the stock.

Clover Health Investments Stock Up 2.9 %

Shares of NASDAQ:CLOV traded up $0.09 during midday trading on Tuesday, reaching $3.21. The company’s stock had a trading volume of 2,853,958 shares, compared to its average volume of 7,755,970. Clover Health Investments has a 12-month low of $0.61 and a 12-month high of $4.71. The firm has a market capitalization of $1.61 billion, a P/E ratio of -15.95 and a beta of 1.94. The firm has a 50 day moving average of $3.64 and a 200-day moving average of $2.64.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $330.99 million during the quarter, compared to analyst estimates of $347.60 million. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. During the same quarter last year, the company earned ($0.09) EPS. On average, research analysts predict that Clover Health Investments will post -0.12 EPS for the current year.

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.