Clover Health Investments (NASDAQ:CLOV) Shares Gap Up to $0.91

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $0.91, but opened at $1.02. Clover Health Investments shares last traded at $1.07, with a volume of 7,155,326 shares changing hands.

Clover Health Investments Stock Up 11.9 %

The company has a market capitalization of $505.20 million, a P/E ratio of -3.10 and a beta of 1.88. The firm has a fifty day simple moving average of $0.74 and a 200-day simple moving average of $0.89.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $510.25 million during the quarter, compared to the consensus estimate of $491.20 million. On average, sell-side analysts predict that Clover Health Investments, Corp. will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at Clover Health Investments

In other news, Director Anna U. Loengard bought 137,000 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $0.73 per share, with a total value of $100,010.00. Following the transaction, the director now owns 538,841 shares in the company, valued at $393,353.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.82% of the stock is owned by insiders.

Institutional Trading of Clover Health Investments

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Clover Health Investments in the 3rd quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC bought a new stake in Clover Health Investments in the third quarter valued at approximately $26,000. Rathbones Group PLC acquired a new stake in shares of Clover Health Investments in the third quarter valued at approximately $27,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Clover Health Investments by 68.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,444 shares of the company's stock valued at $72,000 after buying an additional 30,776 shares during the last quarter. Finally, SignalPoint Asset Management LLC boosted its stake in shares of Clover Health Investments by 40.3% during the 1st quarter. SignalPoint Asset Management LLC now owns 139,366 shares of the company's stock worth $111,000 after acquiring an additional 40,000 shares during the period. Institutional investors own 19.77% of the company's stock.

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.