Clover Health Investments, Corp. (NASDAQ:CLOV) Short Interest Update

Clover Health Investments, Corp. (NASDAQ:CLOV) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 18,330,000 shares, a growth of 16.4% from the October 15th total of 15,750,000 shares. Based on an average daily trading volume, of 9,770,000 shares, the days-to-cover ratio is presently 1.9 days.

Analysts Set New Price Targets

Separately, UBS Group began coverage on shares of Clover Health Investments in a report on Monday, October 7th. They set a “neutral” rating and a $4.00 price target on the stock.

Clover Health Investments Stock Performance

Shares of NASDAQ:CLOV opened at $3.04 on Friday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -15.20 and a beta of 2.03. The firm has a fifty day moving average price of $3.52 and a 200 day moving average price of $2.26. Clover Health Investments has a fifty-two week low of $0.61 and a fifty-two week high of $4.71.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $330.99 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned ($0.09) earnings per share. As a group, research analysts predict that Clover Health Investments will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC purchased a new stake in Clover Health Investments during the third quarter valued at $298,000. State Street Corp raised its position in shares of Clover Health Investments by 65.0% during the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock valued at $6,174,000 after buying an additional 862,621 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Clover Health Investments in the 3rd quarter valued at about $735,000. Parallax Volatility Advisers L.P. purchased a new position in Clover Health Investments in the third quarter worth about $38,000. Finally, Janus Henderson Group PLC bought a new position in shares of Clover Health Investments during the 3rd quarter valued at approximately $477,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

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.