Clover Health Investments (NASDAQ:CLOV) Shares Down 2.8% – What’s Next?

Clover Health Investments, Corp. (NASDAQ:CLOV)’s share price dropped 2.8% during trading on Tuesday . The stock traded as low as $3.17 and last traded at $3.18. Approximately 855,419 shares were traded during trading, a decline of 89% from the average daily volume of 7,693,964 shares. The stock had previously closed at $3.27.

Analyst Ratings Changes

A number of brokerages recently issued reports on CLOV. Craig Hallum initiated coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target for the company. UBS Group assumed coverage on shares of Clover Health Investments in a research note on Monday, October 7th. They set a “neutral” rating and a $4.00 target price for the company.

Clover Health Investments Stock Down 2.1 %

The stock has a market capitalization of $1.60 billion, a PE ratio of -16.00 and a beta of 1.94. The firm’s fifty day moving average price is $3.56 and its two-hundred day moving average price is $2.71.

Clover Health Investments (NASDAQ:CLOV) last announced its earnings results 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 business had revenue of $330.99 million during 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 period in the previous year, the business earned ($0.09) EPS. As a group, analysts predict that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Clover Health Investments

Several hedge funds and other institutional investors have recently made changes to their positions in CLOV. Concurrent Investment Advisors LLC purchased a new position in shares of Clover Health Investments in the third quarter worth approximately $28,000. Sigma Planning Corp bought a new position in Clover Health Investments in the third quarter worth approximately $29,000. Viewpoint Capital Management LLC boosted its stake in shares of Clover Health Investments by 96.8% during the 2nd quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock worth $38,000 after acquiring an additional 15,000 shares during the last quarter. Parallax Volatility Advisers L.P. bought a new stake in shares of Clover Health Investments during the 3rd quarter valued at $38,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Clover Health Investments by 54.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock worth $42,000 after purchasing an additional 12,104 shares in the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

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.