Clover Health Investments (NASDAQ:CLOV) Shares Gap Up – Time to Buy?

Clover Health Investments, Corp. (NASDAQ:CLOV)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $4.26, but opened at $4.47. Clover Health Investments shares last traded at $4.45, with a volume of 4,496,601 shares.

Analysts Set New Price Targets

Separately, UBS Group assumed coverage on Clover Health Investments in a report on Monday, October 7th. They set a “neutral” rating and a $4.00 price objective for the company.

Clover Health Investments Price Performance

The firm has a market capitalization of $2.20 billion, a PE ratio of -13.06 and a beta of 2.13. The company’s fifty day simple moving average is $3.05 and its 200 day simple moving average is $1.79.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Monday, August 5th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. The company had revenue of $356.26 million during the quarter, compared to the consensus estimate of $338.70 million. Clover Health Investments had a negative net margin of 7.30% and a negative return on equity of 36.55%. During the same period last year, the firm earned ($0.06) EPS. On average, analysts anticipate that Clover Health Investments, Corp. will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of Clover Health Investments

A number of institutional investors have recently added to or reduced their stakes in CLOV. XTX Topco Ltd bought a new stake in shares of Clover Health Investments during the second quarter valued at about $932,000. Jupiter Asset Management Ltd. lifted its stake in Clover Health Investments by 18.1% in the 1st quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company’s stock worth $3,593,000 after purchasing an additional 692,878 shares in the last quarter. Choreo LLC bought a new position in Clover Health Investments in the 2nd quarter valued at $344,000. Squarepoint Ops LLC grew its position in shares of Clover Health Investments by 220.7% during the 2nd quarter. Squarepoint Ops LLC now owns 130,352 shares of the company’s stock valued at $160,000 after purchasing an additional 238,329 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new position in shares of Clover Health Investments in the first quarter worth $142,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

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.