Clover Health Investments Sees Unusually High Options Volume (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) saw some unusual options trading activity on Tuesday. Investors purchased 29,604 call options on the stock. This is an increase of approximately 35% compared to the typical volume of 21,958 call options.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Craig Hallum initiated coverage on shares of Clover Health Investments in a report on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price objective on the stock. Canaccord Genuity Group upped their target price on shares of Clover Health Investments from $4.20 to $4.50 and gave the stock a “buy” rating in a research report on Monday.

Institutional Investors Weigh In On Clover Health Investments

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Concurrent Investment Advisors LLC bought a new position in Clover Health Investments in the 3rd quarter valued at about $28,000. Sigma Planning Corp acquired a new stake in shares of Clover Health Investments in the 3rd quarter worth approximately $29,000. Parallax Volatility Advisers L.P. bought a new position in shares of Clover Health Investments in the third quarter valued at approximately $38,000. Triumph Capital Management acquired a new position in shares of Clover Health Investments during the fourth quarter valued at approximately $45,000. Finally, Forum Financial Management LP increased its stake in shares of Clover Health Investments by 33.8% during the third quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock valued at $45,000 after acquiring an additional 4,061 shares during the period. 19.77% of the stock is currently owned by institutional investors.

Clover Health Investments Price Performance

Shares of Clover Health Investments stock opened at $3.83 on Thursday. Clover Health Investments has a 1-year low of $0.61 and a 1-year high of $4.87. The business’s fifty day moving average price is $4.07 and its two-hundred day moving average price is $3.61. The company has a market capitalization of $1.92 billion, a P/E ratio of -19.15 and a beta of 2.00.

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.