Clover Health Investments (NASDAQ:CLOV) Stock Price Down 5.6%

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) traded down 5.6% during trading on Thursday . The stock traded as low as $2.70 and last traded at $2.71. 4,033,601 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 8,073,798 shares. The stock had previously closed at $2.87.

Clover Health Investments Stock Performance

The company’s 50 day simple moving average is $2.09 and its 200 day simple moving average is $1.30. The stock has a market cap of $1.25 billion, a PE ratio of -7.38 and a beta of 2.13.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $356.26 million for the quarter, compared to analyst estimates of $338.70 million. Clover Health Investments had a negative return on equity of 36.55% and a negative net margin of 7.30%. During the same period last year, the company posted ($0.06) earnings per share. Equities research analysts expect that Clover Health Investments, Corp. will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. grew its stake in shares of Clover Health Investments by 18.1% during the 1st 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. XTX Topco Ltd purchased a new stake in Clover Health Investments during the second quarter valued at about $932,000. AQR Capital Management LLC boosted its position in Clover Health Investments by 4.6% during the second quarter. AQR Capital Management LLC now owns 729,706 shares of the company’s stock worth $898,000 after purchasing an additional 32,288 shares during the period. Choreo LLC purchased a new position in shares of Clover Health Investments in the second quarter worth about $344,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Clover Health Investments in the first quarter valued at approximately $142,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

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.