Clover Health Investments, Corp. (NASDAQ:CLOV) Short Interest Up 31.2% in May

Clover Health Investments, Corp. (NASDAQ:CLOV) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 20,440,000 shares, an increase of 31.2% from the May 15th total of 15,580,000 shares. Based on an average trading volume of 5,830,000 shares, the days-to-cover ratio is currently 3.5 days. Approximately 5.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLOV. Phoenix Financial Ltd. boosted its holdings in shares of Clover Health Investments by 6.8% in the 4th quarter. Phoenix Financial Ltd. now owns 39,000 shares of the company’s stock valued at $123,000 after acquiring an additional 2,500 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Clover Health Investments by 80.5% during the first quarter. Rhumbline Advisers now owns 7,085 shares of the company’s stock worth $25,000 after purchasing an additional 3,160 shares during the last quarter. ADAR1 Capital Management LLC lifted its position in Clover Health Investments by 21.5% during the first quarter. ADAR1 Capital Management LLC now owns 28,300 shares of the company’s stock valued at $102,000 after purchasing an additional 5,000 shares during the period. Parallax Volatility Advisers L.P. boosted its holdings in Clover Health Investments by 47.7% in the fourth quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company’s stock valued at $63,000 after purchasing an additional 6,408 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Clover Health Investments by 6.3% during the 4th quarter. Arizona State Retirement System now owns 118,265 shares of the company’s stock worth $373,000 after purchasing an additional 6,990 shares during the period. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Clover Health Investments Stock Up 4.9%

Shares of NASDAQ CLOV opened at $2.97 on Thursday. The firm has a market cap of $1.51 billion, a PE ratio of -59.40 and a beta of 1.91. The business has a fifty day simple moving average of $3.33 and a two-hundred day simple moving average of $3.62. Clover Health Investments has a twelve month low of $1.01 and a twelve month high of $4.87.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Clover Health Investments had a negative net margin of 1.69% and a negative return on equity of 7.42%. The firm had revenue of $462.33 million for the quarter, compared to the consensus estimate of $466.93 million. On average, research analysts expect that Clover Health Investments will post -0.12 earnings per share for the current year.

Analyst Ratings Changes

Separately, 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.

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.