Clover Health Investments (NASDAQ:CLOV) Stock Price Up 5.7%

Clover Health Investments, Corp. (NASDAQ:CLOV)’s share price rose 5.7% on Friday . The company traded as high as $3.63 and last traded at $3.55. Approximately 1,915,214 shares were traded during trading, a decline of 76% from the average daily volume of 7,855,119 shares. The stock had previously closed at $3.36.

Clover Health Investments Stock Performance

The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -9.82 and a beta of 2.10. The stock has a fifty day simple moving average of $1.77 and a two-hundred day simple moving average of $1.18.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Monday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The company had revenue of $356.26 million for the quarter, compared to analysts’ expectations of $338.70 million. Clover Health Investments had a negative net margin of 8.63% and a negative return on equity of 48.07%. During the same quarter in the prior year, the firm earned ($0.06) EPS. Research analysts forecast that Clover Health Investments, Corp. will post -0.21 earnings per share for the current year.

Hedge Funds Weigh In On Clover Health Investments

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Viewpoint Capital Management LLC lifted its position in Clover Health Investments by 96.8% in the 2nd quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock valued at $38,000 after acquiring an additional 15,000 shares in the last quarter. Jaffetilchin Investment Partners LLC lifted its position in Clover Health Investments by 30.2% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock valued at $39,000 after acquiring an additional 11,550 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position 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 valued at $42,000 after acquiring an additional 12,104 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Clover Health Investments during the 2nd quarter worth approximately $55,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of 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 worth $62,000 after buying an additional 46,912 shares in the last quarter. 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.