Clover Health Investments (NASDAQ:CLOV) Trading 5.7% Higher – Time to Buy?

Clover Health Investments, Corp. (NASDAQ:CLOV)’s stock price traded up 5.7% during trading on Thursday . The company traded as high as $4.57 and last traded at $4.56. 5,835,989 shares traded hands during trading, a decline of 12% from the average session volume of 6,653,010 shares. The stock had previously closed at $4.31.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Craig Hallum assumed coverage on shares of Clover Health Investments in a report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target on the stock. UBS Group assumed coverage on shares of Clover Health Investments in a report on Monday, October 7th. They set a “neutral” rating and a $4.00 price target on the stock.

Clover Health Investments Stock Up 8.6 %

The business’s 50 day moving average is $3.42 and its two-hundred day moving average is $3.07. The firm has a market cap of $2.35 billion, a P/E ratio of -23.40 and a beta of 1.95.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Concurrent Investment Advisors LLC acquired a new position in shares of Clover Health Investments during the third quarter valued at about $28,000. Sigma Planning Corp purchased a new position in Clover Health Investments during the third quarter worth about $29,000. Parallax Volatility Advisers L.P. purchased a new position in Clover Health Investments during the third quarter worth about $38,000. Realta Investment Advisors purchased a new position in Clover Health Investments during the third quarter worth about $44,000. Finally, Forum Financial Management LP boosted its holdings in Clover Health Investments by 33.8% during the third quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock worth $45,000 after purchasing an additional 4,061 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.