Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $2.56, but opened at $2.67. Clover Health Investments shares last traded at $2.84, with a volume of 3,938,640 shares changing hands.
Clover Health Investments Stock Down 3.8%
The stock's 50-day simple moving average is $3.12 and its 200 day simple moving average is $3.58. The firm has a market cap of $1.55 billion, a P/E ratio of -61.00 and a beta of 1.86.
Clover Health Investments (NASDAQ:CLOV - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $466.93 million. On average, research analysts forecast that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Clover Health Investments
Several institutional investors have recently made changes to their positions in CLOV. Millennium Management LLC raised its holdings in shares of Clover Health Investments by 365.9% during the first quarter. Millennium Management LLC now owns 5,804,006 shares of the company's stock valued at $20,836,000 after purchasing an additional 4,558,305 shares during the period. Marshall Wace LLP raised its holdings in shares of Clover Health Investments by 167.6% in the 4th quarter. Marshall Wace LLP now owns 3,769,765 shares of the company's stock worth $11,875,000 after acquiring an additional 2,360,902 shares during the last quarter. GMT Capital Corp acquired a new stake in shares of Clover Health Investments in the 1st quarter worth about $4,686,000. Vanguard Group Inc. raised its holdings in shares of Clover Health Investments by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 20,580,117 shares of the company's stock worth $73,883,000 after acquiring an additional 994,904 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Clover Health Investments in the 4th quarter worth about $2,769,000. Institutional investors and hedge funds own 19.77% of the company's stock.
Clover Health Investments Company Profile
(
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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