Clover Health Investments Sees Unusually Large Options Volume (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOVGet Free Report) was the target of some unusual options trading activity on Wednesday. Investors acquired 49,034 call options on the company. This is an increase of 84% compared to the average volume of 26,618 call options.

Clover Health Investments Stock Performance

NASDAQ:CLOV opened at $3.49 on Friday. The firm has a market cap of $1.83 billion, a PE ratio of -29.08 and a beta of 2.44. Clover Health Investments has a fifty-two week low of $1.58 and a fifty-two week high of $3.92. The business has a 50 day moving average price of $2.21 and a 200-day moving average price of $2.40.

Clover Health Investments (NASDAQ:CLOVGet Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The firm had revenue of $749.19 million during the quarter, compared to analysts’ expectations of $714.89 million. Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. Research analysts predict that Clover Health Investments will post -0.02 EPS for the current year.

Insider Transactions at Clover Health Investments

In other Clover Health Investments news, CEO Brady Patrick Priest sold 98,039 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $3.52, for a total value of $345,097.28. Following the completion of the transaction, the chief executive officer owned 2,040,222 shares of the company’s stock, valued at $7,181,581.44. The trade was a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clover Health Investments

Institutional investors and hedge funds have recently bought and sold shares of the business. Divisadero Street Capital Management LP bought a new stake in shares of Clover Health Investments during the third quarter valued at approximately $8,470,000. Principal Financial Group Inc. lifted its position in Clover Health Investments by 1,590.3% during the third quarter. Principal Financial Group Inc. now owns 485,433 shares of the company’s stock valued at $1,485,000 after buying an additional 456,715 shares during the period. Vanguard Group Inc. lifted its position in Clover Health Investments by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock valued at $55,192,000 after buying an additional 425,904 shares during the period. USAdvisors Wealth Management LLC bought a new stake in shares of Clover Health Investments during the 4th quarter valued at $58,000. Finally, Pictet Asset Management Holding SA grew its position in shares of Clover Health Investments by 33.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 81,643 shares of the company’s stock worth $192,000 after buying an additional 20,409 shares during the period. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Canaccord Genuity Group reduced their target price on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating on the stock in a research note on Friday, March 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday, March 27th. Leerink Partners decreased their price objective on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a report on Thursday, March 5th. Finally, Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.90.

Read Our Latest Stock Report on CLOV

About Clover Health Investments

(Get Free Report)

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.

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