Clover Health Investments (NASDAQ:CLOV) Stock Price Up 8.9%

Clover Health Investments, Corp. (NASDAQ:CLOV)’s share price shot up 8.9% during trading on Wednesday . The company traded as high as $1.01 and last traded at $1.01. 7,023,523 shares were traded during mid-day trading, a decline of 19% from the average session volume of 8,626,892 shares. The stock had previously closed at $0.93.

Clover Health Investments Trading Up 10.0 %

The firm has a market capitalization of $506.37 million, a price-to-earnings ratio of -3.00 and a beta of 1.88. The firm has a 50 day moving average price of $0.76 and a two-hundred day moving average price of $0.88.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.06. 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 $510.25 million for the quarter, compared to analyst estimates of $491.20 million. As a group, research analysts forecast that Clover Health Investments, Corp. will post -0.2 earnings per share for the current year.

Insider Transactions at Clover Health Investments

In other news, Director Anna U. Loengard acquired 137,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $0.73 per share, with a total value of $100,010.00. Following the transaction, the director now directly owns 538,841 shares in the company, valued at approximately $393,353.93. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 22.28% of the company’s stock.

Institutional Trading of Clover Health Investments

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC acquired a new position in Clover Health Investments during the 3rd quarter worth $25,000. Allspring Global Investments Holdings LLC acquired a new stake in Clover Health Investments during the third quarter valued at approximately $26,000. Rathbones Group PLC bought a new position in Clover Health Investments during the 3rd quarter worth approximately $27,000. Jaffetilchin Investment Partners LLC increased its holdings in shares of 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 during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Clover Health Investments by 68.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,444 shares of the company’s stock valued at $72,000 after acquiring an additional 30,776 shares in the last quarter. Institutional investors and hedge funds 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.