Investors Purchase High Volume of Clover Health Investments Call Options (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of unusually large options trading on Tuesday. Traders purchased 29,604 call options on the stock. This is an increase of approximately 35% compared to the average daily volume of 21,958 call options.

Clover Health Investments Price Performance

CLOV traded up $0.15 during trading on Tuesday, reaching $3.79. 6,525,892 shares of the company’s stock were exchanged, compared to its average volume of 6,192,713. The stock has a market capitalization of $1.90 billion, a P/E ratio of -18.92 and a beta of 1.99. The company’s fifty day simple moving average is $4.05 and its 200-day simple moving average is $3.60. Clover Health Investments has a 1 year low of $0.61 and a 1 year high of $4.87.

Wall Street Analyst Weigh In

A number of brokerages have commented on CLOV. Canaccord Genuity Group upped their target price on shares of Clover Health Investments from $4.20 to $4.50 and gave the company a “buy” rating in a report on Monday. Craig Hallum initiated coverage on Clover Health Investments in a research note on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price objective for the company.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Phoenix Financial Ltd. increased its stake in Clover Health Investments by 6.8% during the fourth quarter. Phoenix Financial Ltd. now owns 39,000 shares of the company’s stock worth $123,000 after acquiring an additional 2,500 shares during the last quarter. Forum Financial Management LP raised its holdings in Clover Health Investments by 33.8% in the 3rd quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock valued at $45,000 after buying an additional 4,061 shares during the period. Steph & Co. lifted its position in Clover Health Investments by 33.3% in the fourth quarter. Steph & Co. now owns 20,000 shares of the company’s stock valued at $63,000 after buying an additional 5,000 shares during the last quarter. Parallax Volatility Advisers L.P. boosted its stake in Clover Health Investments by 47.7% during the fourth quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company’s stock worth $63,000 after buying an additional 6,408 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Clover Health Investments by 6.3% in the 4th quarter. Arizona State Retirement System now owns 118,265 shares of the company’s stock worth $373,000 after acquiring an additional 6,990 shares during the last quarter. 19.77% of the stock is currently owned by institutional investors and hedge funds.

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.