Short Interest in Clover Health Investments, Corp. (NASDAQ:CLOV) Grows By 9.5%

Clover Health Investments, Corp. (NASDAQ:CLOV) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 48,160,000 shares, an increase of 9.5% from the March 31st total of 43,980,000 shares. Based on an average trading volume of 9,190,000 shares, the days-to-cover ratio is currently 5.2 days.

Insider Buying and Selling at Clover Health Investments

In other Clover Health Investments news, Director Anna U. Loengard acquired 137,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $0.73 per share, for a total transaction of $100,010.00. Following the purchase, the director now directly owns 538,841 shares of the company’s stock, valued at $393,353.93. The acquisition was disclosed in a filing with the SEC, which is available at this link. 21.82% of the stock is owned by corporate insiders.

Institutional Trading of Clover Health Investments

Hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC purchased a new stake in Clover Health Investments during the third quarter valued at $25,000. Allspring Global Investments Holdings LLC bought a new position in shares of Clover Health Investments in the 3rd quarter valued at about $26,000. Rathbones Group PLC purchased a new position in Clover Health Investments in the third quarter worth about $27,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Clover Health Investments by 68.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,444 shares of the company’s stock worth $72,000 after acquiring an additional 30,776 shares during the last quarter. Finally, SignalPoint Asset Management LLC boosted its holdings in shares of 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 purchasing an additional 40,000 shares during the period. 19.77% of the stock is owned by hedge funds and other institutional investors.

Clover Health Investments Stock Performance

Shares of CLOV stock opened at $0.68 on Tuesday. The stock has a fifty day simple moving average of $0.77 and a two-hundred day simple moving average of $0.90. Clover Health Investments has a 52-week low of $0.61 and a 52-week high of $1.63. The firm has a market capitalization of $335.06 million, a PE ratio of -1.50 and a beta of 1.84.

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 the consensus estimate 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 net margin of 10.49% and a negative return on equity of 62.58%. On average, sell-side analysts forecast that Clover Health Investments will post -0.2 EPS for the current fiscal year.

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.