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

Clover Health Investments, Corp. (NASDAQ:CLOVGet Free Report)’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 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 Stock Up 1.1 %

The business has a 50 day moving average of $0.77 and a 200 day moving average of $0.89. The company has a market capitalization of $496.44 million, a P/E ratio of -2.94 and a beta of 1.88.

Clover Health Investments (NASDAQ:CLOVGet Free Report) last posted its earnings results on Tuesday, March 12th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $491.20 million. On average, research analysts anticipate that Clover Health Investments, Corp. will post -0.2 EPS for the current year.

Insider Transactions at Clover Health Investments

In other Clover Health Investments news, Director Anna U. Loengard purchased 137,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $0.73 per share, with a total value of $100,010.00. Following the acquisition, the director now owns 538,841 shares in the company, valued at $393,353.93. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.28% of the company’s stock.

Institutional Trading of Clover Health Investments

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Clover Health Investments during the third quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC bought a new position in Clover Health Investments in the 3rd quarter valued at $26,000. Rathbones Group PLC purchased a new stake in Clover Health Investments in the third quarter worth $27,000. Jaffetilchin Investment Partners LLC lifted its position in shares of Clover Health Investments by 30.2% during 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Clover Health Investments by 68.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,444 shares of the company’s stock valued at $72,000 after purchasing an additional 30,776 shares during the period. Hedge funds and other institutional investors own 19.77% of the company’s stock.

About Clover Health Investments

(Get Free Report)

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.

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