Clover Health Investments (NASDAQ:CLOV) Shares Down 5.4%

Clover Health Investments, Corp. (NASDAQ:CLOV)’s stock price dropped 5.4% during mid-day trading on Friday . The stock traded as low as $1.22 and last traded at $1.23. Approximately 3,292,531 shares traded hands during trading, a decline of 59% from the average daily volume of 8,041,356 shares. The stock had previously closed at $1.30.

Clover Health Investments Stock Performance

The company has a 50-day moving average of $0.95 and a 200 day moving average of $0.91.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. Clover Health Investments had a negative net margin of 8.63% and a negative return on equity of 48.07%. The company had revenue of $346.92 million for the quarter, compared to analysts’ expectations of $316.10 million. As a group, equities research analysts predict that Clover Health Investments, Corp. will post -0.21 EPS for the current year.

Institutional Trading of Clover Health Investments

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jaffetilchin Investment Partners LLC grew its position in Clover Health Investments by 30.2% in the first quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock worth $39,000 after acquiring an additional 11,550 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Clover Health Investments by 151.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 77,948 shares of the company’s stock worth $62,000 after purchasing an additional 46,912 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Clover Health Investments by 68.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,444 shares of the company’s stock valued at $72,000 after purchasing an additional 30,776 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Clover Health Investments during the 1st quarter valued at about $91,000. Finally, SignalPoint Asset Management LLC lifted its position in Clover Health Investments by 40.3% in the 1st quarter. SignalPoint Asset Management LLC now owns 139,366 shares of the company’s stock worth $111,000 after buying an additional 40,000 shares during the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

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.