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

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of some unusual options trading on Monday. Investors bought 37,742 call options on the stock. This is an increase of 42% compared to the typical volume of 26,552 call options.

Analysts Set New Price Targets

Several research analysts have commented on CLOV shares. Leerink Partners decreased their target price on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a report on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Finally, Canaccord Genuity Group decreased their target price on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Clover Health Investments has a consensus rating of “Hold” and a consensus target price of $2.90.

Insider Activity at Clover Health Investments

In related news, CEO Brady Patrick Priest sold 175,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $2.17, for a total value of $379,750.00. Following the completion of the transaction, the chief executive officer owned 1,998,584 shares in the company, valued at $4,336,927.28. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 24.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Abel Hall LLC acquired a new stake in Clover Health Investments during the fourth quarter valued at approximately $27,000. Allworth Financial LP raised its holdings in shares of Clover Health Investments by 218.9% in the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock worth $29,000 after buying an additional 6,527 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Clover Health Investments during the 4th quarter worth approximately $29,000. Schonfeld Strategic Advisors LLC acquired a new stake in Clover Health Investments in the 4th quarter valued at $29,000. Finally, Envestnet Asset Management Inc. bought a new stake in Clover Health Investments in the second quarter valued at $31,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Price Performance

Shares of NASDAQ CLOV traded up $0.18 during trading hours on Monday, reaching $1.90. The stock had a trading volume of 4,806,024 shares, compared to its average volume of 5,933,824. The company has a market cap of $994.25 million, a price-to-earnings ratio of -11.15 and a beta of 2.24. Clover Health Investments has a twelve month low of $1.58 and a twelve month high of $3.92. The business’s fifty day moving average is $2.01 and its two-hundred day moving average is $2.48.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). Clover Health Investments had a negative net margin of 4.45% and a negative return on equity of 25.17%. The business had revenue of $487.71 million during the quarter, compared to the consensus estimate of $467.06 million. Sell-side analysts forecast that Clover Health Investments will post -0.12 earnings per share for the current fiscal year.

Clover Health Investments Company Profile

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.