Clover Health Investments Target of Unusually Large Options Trading (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of some unusual options trading activity on Friday. Stock traders bought 39,909 call options on the stock. This represents an increase of approximately 47% compared to the typical volume of 27,120 call options.

Clover Health Investments Stock Performance

CLOV stock traded up $0.15 during trading on Friday, reaching $4.83. The company had a trading volume of 6,582,223 shares, compared to its average volume of 6,966,870. The firm has a 50-day simple moving average of $3.45 and a 200-day simple moving average of $3.08. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -24.08 and a beta of 1.95. Clover Health Investments has a twelve month low of $0.61 and a twelve month high of $4.87.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $330.99 million during the quarter, compared to analyst estimates of $347.60 million. During the same period last year, the firm posted ($0.09) EPS. Sell-side analysts expect that Clover Health Investments will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Clover Health Investments

A number of institutional investors have recently bought and sold shares of CLOV. Geode Capital Management LLC increased its holdings in shares of Clover Health Investments by 21.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company’s stock valued at $13,622,000 after purchasing an additional 868,501 shares in the last quarter. State Street Corp increased 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 purchasing an additional 862,621 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Clover Health Investments by 75.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock valued at $3,181,000 after purchasing an additional 485,987 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Clover Health Investments during the 3rd quarter valued at approximately $1,228,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Clover Health Investments during the 3rd quarter valued at approximately $735,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Craig Hallum assumed coverage on shares of Clover Health Investments in a research note on Tuesday, December 17th. They issued a “buy” rating and a $6.00 target price on the stock. UBS Group started coverage on shares of Clover Health Investments in a research note on Monday, October 7th. They issued a “neutral” rating and a $4.00 price target on the 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.