Clover Health Investments, Corp. (NASDAQ:CLOV) Short Interest Update

Clover Health Investments, Corp. (NASDAQ:CLOV) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 11,900,000 shares, a decline of 22.4% from the February 13th total of 15,330,000 shares. Based on an average trading volume of 5,890,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 3.1% of the shares of the company are sold short.

Insider Activity

In other Clover Health Investments news, Director Carladenise Armbrister Edwards sold 200,000 shares of Clover Health Investments stock in a transaction on Friday, March 7th. The stock was sold at an average price of $3.61, for a total value of $722,000.00. Following the completion of the transaction, the director now directly owns 273,227 shares of the company’s stock, valued at $986,349.47. The trade was a 42.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Karen Soares sold 52,500 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $3.80, for a total value of $199,500.00. Following the sale, the general counsel now directly owns 1,299,663 shares in the company, valued at approximately $4,938,719.40. This trade represents a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 327,500 shares of company stock valued at $1,197,500. 22.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP increased its position in Clover Health Investments by 167.6% during the 4th quarter. Marshall Wace LLP now owns 3,769,765 shares of the company’s stock worth $11,875,000 after purchasing an additional 2,360,902 shares in the last quarter. Millennium Management LLC grew its stake in shares of Clover Health Investments by 5,071.2% during the fourth quarter. Millennium Management LLC now owns 1,245,701 shares of the company’s stock worth $3,924,000 after buying an additional 1,221,612 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Clover Health Investments during the fourth quarter worth $2,769,000. Geode Capital Management LLC lifted its stake in shares of Clover Health Investments by 21.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company’s stock valued at $13,622,000 after acquiring an additional 868,501 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Clover Health Investments by 65.0% during the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock valued at $6,174,000 after acquiring an additional 862,621 shares in the last quarter. Institutional investors own 19.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CLOV. Canaccord Genuity Group raised 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, March 3rd. Craig Hallum assumed coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target on the stock.

Clover Health Investments Stock Down 1.3 %

NASDAQ:CLOV opened at $3.61 on Monday. Clover Health Investments has a twelve month low of $0.61 and a twelve month high of $4.87. The stock’s 50-day simple moving average is $4.12 and its 200 day simple moving average is $3.63. The firm has a market capitalization of $1.84 billion, a PE ratio of -18.02 and a beta of 2.00.

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.