Stock Traders Buy Large Volume of Call Options on Clover Health Investments (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV – Get Free Report) was the recipient of unusually large options trading activity on Friday. Stock traders bought 10,012 call options on the company. This is an increase of 95% compared to the typical volume of 5,131 call options.

Clover Health Investments Price Performance

Clover Health Investments stock opened at $1.00 on Friday. The stock has a market cap of $481.88 million, a price-to-earnings ratio of -1.41 and a beta of 1.96. Clover Health Investments has a 1 year low of $0.71 and a 1 year high of $3.55. The firm has a 50-day moving average of $0.93 and a two-hundred day moving average of $0.98.

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Clover Health Investments (NASDAQ:CLOV – Get Free Report) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.04. The company had revenue of $527.78 million during the quarter, compared to analysts’ expectations of $491.94 million. Clover Health Investments had a negative net margin of 10.74% and a negative return on equity of 96.52%. Research analysts expect that Clover Health Investments will post -0.63 earnings per share for the current year.

Institutional Investors Weigh In On Clover Health Investments

Several hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC bought a new position in shares of Clover Health Investments during the 1st quarter worth approximately $35,000. Atria Wealth Solutions Inc. bought a new position in shares of Clover Health Investments during the 1st quarter worth approximately $36,000. Forum Financial Management LP bought a new position in shares of Clover Health Investments during the 1st quarter worth approximately $43,000. UBS Group AG raised its stake in shares of Clover Health Investments by 3,986.3% during the 1st quarter. UBS Group AG now owns 12,259 shares of the company’s stock worth $44,000 after acquiring an additional 11,959 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Clover Health Investments during the 1st quarter worth approximately $60,000. Hedge funds and other institutional investors own 25.44% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup dropped their price target on shares of Clover Health Investments from $1.30 to $1.00 in a research note on Friday, May 12th.

About Clover Health Investments

(Get Free Report)

Clover Health Investments, Corp. provides medicare advantage plans 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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