Clover Health Investments (NASDAQ:CLOV) Shares Gap Up to $8.82

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) gapped up before the market opened on Monday . The stock had previously closed at $8.82, but opened at $9.71. Clover Health Investments shares last traded at $10.14, with a volume of 1,028,080 shares.

A number of analysts have recently commented on the company. Citigroup cut their price target on Clover Health Investments from $19.00 to $13.00 in a report on Wednesday, March 3rd. JPMorgan Chase & Co. assumed coverage on Clover Health Investments in a report on Monday, February 1st. They issued a “neutral” rating and a $15.00 price target on the stock. Zacks Investment Research lowered Clover Health Investments from a “hold” rating to a “sell” rating in a report on Tuesday, April 6th. Finally, Credit Suisse Group began coverage on Clover Health Investments in a report on Monday, March 15th. They set a “neutral” rating and a $10.00 target price on the stock.

The firm has a fifty day moving average of $8.14 and a 200-day moving average of $11.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new position in Clover Health Investments during the third quarter worth approximately $192,000. Schonfeld Strategic Advisors LLC increased its position 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 worth $21,027,000 after buying an additional 687,543 shares during the last quarter. Virtu Financial LLC acquired a new position in Clover Health Investments during the third quarter worth approximately $341,000. Advisory Services Network LLC acquired a new position in Clover Health Investments during the fourth quarter worth approximately $232,000. Finally, Valeo Financial Advisors LLC acquired a new position in Clover Health Investments during the fourth quarter worth approximately $205,000. Institutional investors and hedge funds own 49.05% of the company’s stock.

About Clover Health Investments (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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