Clover Health Investments (NASDAQ:CLOV) Trading Up 3.5% – Still a Buy?

Clover Health Investments, Corp. (NASDAQ:CLOV)’s share price traded up 3.5% during mid-day trading on Tuesday . The company traded as high as $3.27 and last traded at $3.23. 697,331 shares were traded during mid-day trading, a decline of 91% from the average session volume of 7,747,493 shares. The stock had previously closed at $3.12.

Analyst Upgrades and Downgrades

CLOV has been the topic of a number of research analyst reports. Craig Hallum began coverage on Clover Health Investments in a report on Tuesday. They set a “buy” rating and a $6.00 target price on the stock. UBS Group began coverage on shares of Clover Health Investments in a report on Monday, October 7th. They issued a “neutral” rating and a $4.00 price objective for the company.

Clover Health Investments Trading Down 1.9 %

The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -15.75 and a beta of 1.94. The business has a 50-day moving average price of $3.61 and a two-hundred day moving average price of $2.65.

Clover Health Investments (NASDAQ:CLOV) last issued its earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm had revenue of $330.99 million for the quarter, compared to analyst estimates 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 last year, the company earned ($0.09) earnings per share. On average, equities research analysts predict that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clover Health Investments

A number of hedge funds have recently made changes to their positions in the business. Viewpoint Capital Management LLC increased its stake in Clover Health Investments by 96.8% during the 2nd quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock valued at $38,000 after buying an additional 15,000 shares during the period. Choreo LLC bought a new stake in shares of Clover Health Investments in the 2nd quarter worth $344,000. Headlands Technologies LLC acquired a new stake in shares of Clover Health Investments in the second quarter valued at $199,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Clover Health Investments by 54.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock valued at $42,000 after buying an additional 12,104 shares during the period. Finally, XTX Topco Ltd acquired a new position in Clover Health Investments during the second quarter worth about $932,000. 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.