Short Interest in Clover Health Investments, Corp. (NASDAQ:CLOV) Drops By 7.5%

Clover Health Investments, Corp. (NASDAQ:CLOV) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 43,980,000 shares, a drop of 7.5% from the March 15th total of 47,540,000 shares. Based on an average daily trading volume, of 9,360,000 shares, the short-interest ratio is presently 4.7 days.

Clover Health Investments Price Performance

Clover Health Investments stock traded down $0.01 during trading hours on Tuesday, reaching $0.63. The company had a trading volume of 5,340,267 shares, compared to its average volume of 9,232,332. The company has a 50-day moving average price of $0.84 and a 200 day moving average price of $0.93. The firm has a market cap of $309.56 million, a price-to-earnings ratio of -1.41 and a beta of 1.84. Clover Health Investments has a 12-month low of $0.61 and a 12-month high of $1.63.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The business had revenue of $510.25 million for the quarter, compared to analysts’ expectations of $491.20 million. Clover Health Investments had a negative return on equity of 62.58% and a negative net margin of 10.49%. As a group, research analysts expect that Clover Health Investments will post -0.2 earnings per share for the current year.

Insider Activity at Clover Health Investments

In other news, Director Anna U. Loengard acquired 137,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $0.73 per share, with a total value of $100,010.00. Following the acquisition, the director now owns 538,841 shares in the company, valued at approximately $393,353.93. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clover Health Investments

Large investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Clover Health Investments during the third quarter valued at approximately $25,000. Two Sigma Advisers LP purchased a new position in shares of Clover Health Investments during the first quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Clover Health Investments during the third quarter valued at approximately $26,000. Rathbones Group PLC purchased a new position in shares of Clover Health Investments during the third quarter valued at approximately $27,000. Finally, UBS Group AG increased its stake in shares of Clover Health Investments by 684.1% during the fourth quarter. UBS Group AG now owns 28,767 shares of the company’s stock valued at $27,000 after buying an additional 25,098 shares during the period. 19.77% of the stock is owned by hedge funds and other institutional investors.

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.