Clover Health Investments Target of Unusually High Options Trading (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of unusually large options trading on Friday. Traders acquired 39,909 call options on the company. This is an increase of approximately 47% compared to the average daily volume of 27,120 call options.

Institutional Investors Weigh In On Clover Health Investments

Several institutional investors have recently bought and sold shares of the company. Concurrent Investment Advisors LLC acquired a new position in shares of Clover Health Investments during the 3rd quarter worth approximately $28,000. Sigma Planning Corp acquired a new position in shares of Clover Health Investments during the 3rd quarter worth approximately $29,000. Parallax Volatility Advisers L.P. acquired a new position in shares of Clover Health Investments during the 3rd quarter worth approximately $38,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Clover Health Investments by 54.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock worth $42,000 after purchasing an additional 12,104 shares during the last quarter. Finally, Realta Investment Advisors acquired a new position in shares of Clover Health Investments during the 3rd quarter worth approximately $44,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CLOV shares. UBS Group began coverage on Clover Health Investments in a research report on Monday, October 7th. They issued a “neutral” rating and a $4.00 price objective for the company. Craig Hallum began coverage on Clover Health Investments in a research note on Tuesday, December 17th. They issued a “buy” rating and a $6.00 target price for the company.

Clover Health Investments Stock Performance

NASDAQ CLOV opened at $4.82 on Friday. The stock has a 50-day simple moving average of $3.48 and a two-hundred day simple moving average of $3.11. The firm has a market capitalization of $2.42 billion, a P/E ratio of -24.10 and a beta of 1.95. Clover Health Investments has a fifty-two week low of $0.61 and a fifty-two week high of $4.87.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. The firm had revenue of $330.99 million for the quarter, compared to analysts’ expectations of $347.60 million. During the same period last year, the firm earned ($0.09) EPS. As a group, analysts forecast that Clover Health Investments will post -0.12 earnings per share for the current 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.