Clover Health Investments Sees Unusually Large Options Volume (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOVGet Rating) saw unusually large options trading on Tuesday. Stock investors bought 33,541 call options on the company. This is an increase of approximately 45% compared to the average daily volume of 23,183 call options.

Clover Health Investments Price Performance

Shares of Clover Health Investments stock opened at $3.10 on Wednesday. Clover Health Investments has a twelve month low of $1.95 and a twelve month high of $11.13. The business has a 50-day moving average price of $2.47 and a 200 day moving average price of $2.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.47 billion, a PE ratio of -2.12 and a beta of 1.99.

Clover Health Investments (NASDAQ:CLOVGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.05. The company had revenue of $874.38 million for the quarter, compared to analysts’ expectations of $815.42 million. Clover Health Investments had a negative return on equity of 112.18% and a negative net margin of 28.64%. Sell-side analysts predict that Clover Health Investments will post -1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clover Health Investments

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC lifted its holdings in Clover Health Investments by 3,500.0% in the 4th quarter. FNY Investment Advisers LLC now owns 7,200 shares of the company’s stock worth $26,000 after buying an additional 7,000 shares in the last quarter. Lazard Asset Management LLC bought a new position in Clover Health Investments in the 1st quarter worth about $35,000. Nicholas Hoffman & Company LLC. acquired a new stake in shares of Clover Health Investments in the 1st quarter worth approximately $36,000. Atria Wealth Solutions Inc. acquired a new stake in Clover Health Investments during the first quarter valued at approximately $36,000. Finally, Independent Wealth Network Inc. purchased a new stake in shares of Clover Health Investments in the 1st quarter valued at approximately $37,000. 23.26% of the stock is currently owned by institutional investors and hedge funds.

Clover Health Investments Company Profile

(Get Rating)

Clover Health Investments, Corp. operates as a medicare advantage insurer in the United States. The company through its Clover Assistant, a software platform that provides preferred provider organization and health maintenance organization health plans for medicare-eligible consumers. It also focuses on non-insurance businesses.

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