Clover Health Investments, Corp. (NASDAQ:CLOV) Short Interest Down 22.4% in February

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 11,900,000 shares, a decline of 22.4% from the February 13th total of 15,330,000 shares. Based on an average trading volume of 5,890,000 shares, the days-to-cover ratio is presently 2.0 days. Currently, 3.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CLOV shares. Canaccord Genuity Group raised their price target on Clover Health Investments from $4.20 to $4.50 and gave the company a “buy” rating in a report on Monday, March 3rd. Craig Hallum began coverage on shares of Clover Health Investments in a research note on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price target on the stock.

Clover Health Investments Trading Up 1.2 %

CLOV traded up $0.05 during trading on Tuesday, hitting $3.75. 2,723,240 shares of the company’s stock traded hands, compared to its average volume of 6,948,628. Clover Health Investments has a 12-month low of $0.61 and a 12-month high of $4.87. The company’s 50 day simple moving average is $4.12 and its two-hundred day simple moving average is $3.63. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -18.66 and a beta of 2.00.

Insider Buying and Selling at Clover Health Investments

In other Clover Health Investments news, General Counsel Karen Soares sold 52,500 shares of Clover Health Investments stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $3.80, for a total transaction of $199,500.00. Following the sale, the general counsel now directly owns 1,299,663 shares of the company’s stock, valued at approximately $4,938,719.40. The trade was a 3.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $3.61, for a total value of $722,000.00. Following the transaction, the director now directly owns 273,227 shares of the company’s stock, valued at $986,349.47. This represents a 42.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 327,500 shares of company stock worth $1,197,500. 22.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clover Health Investments

Large investors have recently bought and sold shares of the business. Graypoint LLC bought a new position in shares of Clover Health Investments during the 4th quarter valued at $632,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Clover Health Investments in the third quarter valued at about $1,228,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Clover Health Investments by 75.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock worth $3,181,000 after purchasing an additional 485,987 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Clover Health Investments during the 3rd quarter valued at about $448,000. Finally, State Street Corp increased its position 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 during the last quarter. 19.77% of the stock is currently owned by 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.