Investors Purchase High Volume of Call Options on Clover Health Investments (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of some unusual options trading on Thursday. Investors purchased 62,471 call options on the stock. This is an increase of approximately 101% compared to the typical volume of 31,074 call options.

Analyst Ratings Changes

Separately, UBS Group started coverage on Clover Health Investments in a research report on Monday, October 7th. They set a “neutral” rating and a $4.00 price objective on the stock.

Clover Health Investments Trading Down 16.1 %

CLOV stock traded down $0.70 during trading hours on Thursday, hitting $3.65. 12,606,032 shares of the stock were exchanged, compared to its average volume of 8,038,065. The firm has a market capitalization of $1.82 billion, a P/E ratio of -13.74 and a beta of 2.03. The company has a 50-day simple moving average of $3.41 and a two-hundred day simple moving average of $2.12. Clover Health Investments has a 12 month low of $0.61 and a 12 month high of $4.71.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. The firm had revenue of $356.26 million for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned ($0.06) EPS. On average, equities research analysts predict that Clover Health Investments will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new position in shares of Clover Health Investments in the third quarter worth $28,000. Sigma Planning Corp bought a new position in shares of Clover Health Investments in the third quarter worth $29,000. Viewpoint Capital Management LLC increased its position in shares of Clover Health Investments by 96.8% in the second quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock worth $38,000 after purchasing an additional 15,000 shares during the period. Jaffetilchin Investment Partners LLC increased its position in shares of Clover Health Investments by 30.2% in the first quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock worth $39,000 after purchasing an additional 11,550 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Clover Health Investments by 54.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock worth $42,000 after purchasing an additional 12,104 shares during the period. 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.