Clover Health Investments Target of Unusually High Options Trading (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of some unusual options trading activity on Thursday. Traders acquired 52,433 call options on the stock. This represents an increase of approximately 92% compared to the average volume of 27,279 call options.

Institutional Trading of Clover Health Investments

A number of hedge funds and other institutional investors have recently modified their holdings of CLOV. Jupiter Asset Management Ltd. grew its stake in 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 in the last quarter. XTX Topco Ltd bought a new stake in shares of Clover Health Investments in the second quarter worth $932,000. AQR Capital Management LLC raised its holdings 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 valued at $898,000 after acquiring an additional 32,288 shares in the last quarter. Choreo LLC bought a new position in Clover Health Investments during the 2nd quarter valued at $344,000. Finally, Bayesian Capital Management LP bought a new position in Clover Health Investments during the 1st quarter valued at $142,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

Clover Health Investments Trading Up 4.2 %

NASDAQ:CLOV traded up $0.18 during trading hours on Thursday, hitting $4.44. The stock had a trading volume of 11,300,320 shares, compared to its average volume of 8,070,495. The business has a 50 day simple moving average of $3.05 and a two-hundred day simple moving average of $1.79. Clover Health Investments has a 1-year low of $0.61 and a 1-year high of $4.71. The company has a market cap of $2.20 billion, a PE ratio of -13.56 and a beta of 2.13.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings results on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. Clover Health Investments had a negative net margin of 7.30% and a negative return on equity of 36.55%. The business had revenue of $356.26 million during the quarter, compared to analyst estimates of $338.70 million. During the same period last year, the business earned ($0.06) EPS. Research analysts expect that Clover Health Investments will post -0.13 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, 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 for the company.

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.