Clover Health Investments (NASDAQ:CLOV) Trading 17.8% Higher

Clover Health Investments, Corp. (NASDAQ:CLOV) traded up 17.8% during mid-day trading on Thursday . The company traded as high as $8.66 and last traded at $8.66. 428,534 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 16,065,795 shares. The stock had previously closed at $7.35.

A number of research analysts have recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of Clover Health Investments in a research report on Monday, March 15th. They issued a “neutral” rating and a $10.00 price target on the stock. Citigroup dropped their price target on shares of Clover Health Investments from $19.00 to $13.00 in a research report on Wednesday, March 3rd. Zacks Investment Research downgraded shares of Clover Health Investments from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. initiated coverage on shares of Clover Health Investments in a research note on Monday, February 1st. They issued a “neutral” rating and a $15.00 price objective for the company.

The stock’s 50 day simple moving average is $8.72 and its 200 day simple moving average is $11.26.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC bought a new stake in shares of Clover Health Investments in the 4th quarter worth $205,000. Advisory Services Network LLC purchased a new stake in Clover Health Investments during the fourth quarter valued at about $232,000. Squarepoint Ops LLC purchased a new stake in Clover Health Investments during the third quarter valued at about $192,000. Virtu Financial LLC purchased a new stake in Clover Health Investments during the third quarter valued at about $341,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Clover Health Investments by 68.8% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,687,543 shares of the company’s stock valued at $21,027,000 after purchasing an additional 687,543 shares during the last quarter. Hedge funds and other institutional investors own 49.05% of the company’s stock.

Clover Health Investments Company Profile (NASDAQ:CLOV)

Clover Health Investments, Corp. operates as a Medicare Advantage insurer in the United States. The company through its software platform provides preferred provider organization and health maintenance organization health plans for Medicare-eligible consumers. Clover Health Investments, Corp. was founded in 2012 and is headquartered in Franklin, Tennessee.

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