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

Clover Health Investments, Corp. (NASDAQ:CLOV) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 15,960,000 shares, an increase 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.

Clover Health Investments Price Performance

CLOV opened at $4.08 on Tuesday. Clover Health Investments has a fifty-two week low of $0.61 and a fifty-two week high of $4.71. The company’s 50-day moving average is $3.36 and its 200 day moving average is $3.02. The firm has a market capitalization of $2.04 billion, a P/E ratio of -20.40 and a beta of 1.95.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm had revenue of $330.99 million for 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 quarter last year, the firm earned ($0.09) EPS. On average, equities research analysts expect that Clover Health Investments will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of Clover Health Investments by 21.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company’s stock worth $13,622,000 after purchasing an additional 868,501 shares during the period. Charles Schwab Investment Management Inc. raised its position in Clover Health Investments by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company’s stock worth $8,461,000 after acquiring an additional 150,550 shares during the period. State Street Corp boosted its stake in Clover Health Investments by 65.0% in the third quarter. State Street Corp now owns 2,189,380 shares of the company’s stock valued at $6,174,000 after acquiring an additional 862,621 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Clover Health Investments by 75.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock valued at $3,181,000 after acquiring an additional 485,987 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Clover Health Investments during the 2nd quarter worth approximately $932,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CLOV shares. Craig Hallum started coverage on shares of Clover Health Investments in a research report 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 price target for the company.

Clover Health Investments Company Profile

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.