Clover Health Investments (NASDAQ:CLOV) Trading 5.4% Higher

Clover Health Investments, Corp. (NASDAQ:CLOV)’s stock price rose 5.4% during mid-day trading on Monday . The company traded as high as $1.78 and last traded at $1.76. Approximately 7,017,540 shares traded hands during trading, a decline of 5% from the average daily volume of 7,412,890 shares. The stock had previously closed at $1.67.

Clover Health Investments Price Performance

The firm has a 50-day moving average of $1.34 and a 200 day moving average of $1.02. The company has a market capitalization of $933.30 million, a PE ratio of -5.51 and a beta of 2.10.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. Clover Health Investments had a negative net margin of 8.63% and a negative return on equity of 48.07%. The firm had revenue of $346.92 million during the quarter, compared to analysts’ expectations of $316.10 million. Equities analysts expect that Clover Health Investments, Corp. will post -0.21 EPS 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 CLOV. Jupiter Asset Management Ltd. lifted its stake in Clover Health Investments by 18.1% in the first quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company’s stock worth $3,593,000 after acquiring an additional 692,878 shares during the period. Jump Financial LLC purchased a new stake in Clover Health Investments during the fourth quarter worth $125,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Clover Health Investments during the 4th quarter worth about $162,000. SignalPoint Asset Management LLC grew its position in shares of Clover Health Investments by 40.3% in the first quarter. SignalPoint Asset Management LLC now owns 139,366 shares of the company’s stock valued at $111,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Clover Health Investments by 151.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 77,948 shares of the company’s stock valued at $62,000 after buying an additional 46,912 shares during the period. Hedge funds and other institutional investors own 19.77% of the company’s stock.

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.