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

Clover Health Investments, Corp. (NASDAQ:CLOV)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $4.00, but opened at $4.22. Clover Health Investments shares last traded at $3.87, with a volume of 4,549,871 shares trading hands.

Clover Health Investments Stock Performance

The stock has a market capitalization of $2.01 billion, a PE ratio of -11.88 and a beta of 2.13. The firm has a 50 day moving average of $2.70 and a 200-day moving average of $1.61.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The firm had revenue of $356.26 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned ($0.06) EPS. On average, sell-side analysts predict that Clover Health Investments, Corp. will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On Clover Health Investments

Several large investors have recently made changes to their positions in CLOV. Viewpoint Capital Management LLC raised its holdings in shares of 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 purchasing an additional 15,000 shares in the last quarter. Jaffetilchin Investment Partners LLC raised its position in shares of Clover Health Investments by 30.2% in the first quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock valued at $39,000 after purchasing an additional 11,550 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Clover Health Investments by 54.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock worth $42,000 after acquiring an additional 12,104 shares during the period. Marshall Wace LLP acquired a new stake in shares of Clover Health Investments in the second quarter valued at about $55,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Clover Health Investments by 151.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 77,948 shares of the company’s stock valued at $62,000 after purchasing an additional 46,912 shares during the period. 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.