Clover Health Investments (NASDAQ:CLOV) Trading Down 4.5% – Here’s What Happened

Clover Health Investments, Corp. (NASDAQ:CLOVGet Free Report)’s share price dropped 4.5% during trading on Wednesday . The stock traded as low as $4.43 and last traded at $4.39. Approximately 1,149,289 shares were traded during trading, a decline of 84% from the average daily volume of 6,965,554 shares. The stock had previously closed at $4.59.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group began coverage on Clover Health Investments in a research report on Monday, October 7th. They set a “neutral” rating and a $4.00 price target on the stock. Craig Hallum initiated coverage on Clover Health Investments in a research report on Tuesday, December 17th. They issued a “buy” rating and a $6.00 target price on the stock.

Get Our Latest Research Report on Clover Health Investments

Clover Health Investments Stock Performance

The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -22.08 and a beta of 1.95. The business’s 50 day simple moving average is $3.54 and its 200-day simple moving average is $3.18.

Clover Health Investments (NASDAQ:CLOVGet Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) 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 company had revenue of $330.99 million during the quarter, compared to analysts’ expectations of $347.60 million. During the same quarter in the prior year, the business posted ($0.09) earnings per share. As a group, sell-side analysts expect that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CLOV. Concurrent Investment Advisors LLC acquired a new position in Clover Health Investments during the third quarter worth about $28,000. Sigma Planning Corp acquired a new position in Clover Health Investments during the third quarter worth about $29,000. Parallax Volatility Advisers L.P. acquired a new position in Clover Health Investments during the third quarter worth about $38,000. Realta Investment Advisors acquired a new position in Clover Health Investments during the third quarter worth about $44,000. Finally, Forum Financial Management LP grew its holdings in Clover Health Investments by 33.8% during the third 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 period. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Clover Health Investments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clover Health Investments and related companies with MarketBeat.com's FREE daily email newsletter.