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

Clover Health Investments, Corp. (NASDAQ:CLOV) saw a significant decline in short interest in 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 short-interest ratio is presently 2.0 days. Approximately 3.1% of the shares of the stock are short sold.

Insider Buying and Selling

In other Clover Health Investments news, CEO Brady Patrick Priest sold 75,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $3.68, for a total value of $276,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,418,151 shares of the company’s stock, valued at $8,898,795.68. The trade was a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $3.61, for a total transaction of $722,000.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,500 shares of company stock worth $1,197,500. Corporate insiders own 22.28% of the company’s stock.

Institutional Investors Weigh In On Clover Health Investments

Institutional investors have recently made changes to their positions in the company. Sigma Planning Corp purchased a new stake in shares of Clover Health Investments during the third quarter valued at approximately $29,000. Parallax Volatility Advisers L.P. bought a new position in Clover Health Investments during the third quarter valued at approximately $38,000. Triumph Capital Management bought a new position in Clover Health Investments during the fourth quarter valued at approximately $45,000. KBC Group NV bought a new position in Clover Health Investments during the third quarter valued at approximately $53,000. Finally, Steph & Co. lifted its position in Clover Health Investments by 33.3% during the fourth quarter. Steph & Co. now owns 20,000 shares of the company’s stock valued at $63,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Analysts Set New Price Targets

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

Clover Health Investments Trading Down 2.0 %

CLOV traded down $0.08 during midday trading on Wednesday, reaching $3.74. The company’s stock had a trading volume of 361,864 shares, compared to its average volume of 6,917,495. The stock’s 50-day moving average is $4.13 and its 200-day moving average is $3.64. Clover Health Investments has a 1 year low of $0.61 and a 1 year high of $4.87. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -18.67 and a beta of 2.00.

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.