Clover Health (CLOV) Stock Drops But Still Looks Very Promising

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The CLOV stock price fluctuated between $9.3 and $10.17 throughout the trading session with the volume trading being 47M shares, which represented a positive variation when compared to the three months average volume of 43M shares.

The share price of Clover Health Investments, Corp. (NasdaqGS:CLOV) dipped -1.48% to close Thursday’s market session at $9.31, lower as compared to yesterday’s close which brings the market valuation of the company to $3.82B.

The 52-week high for the Clover Health Investments, Corp.’s shares is $28.85. That puts it -67.73% from that peak but still a good gain since the share price dropped to a 52-week low of $6.31, while the S&P 500’s share price change was of 35.11%.

What does the trading volume tell us about the CLOV stock?

During the last trading session, Clover Health Investments, Corp. (NasdaqGS:CLOV) has seen decay in its daily volume. The daily volume was of 43M, while in the last 10 days the average was 55.93M and last three months – 42.84M.

The decreasing interest in the CLOV stock from the investors is helping to drive the stock price down.

Growing short interest

The Clover Health Investments, Corp.’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 30.27M shares being shorted which translates into 1.08 of a short ratio for CLOV, while in the previous month the shorted shares were 28.61M.

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Clover Health Investments, Corp.’s (NasdaqGS:CLOV) financials

With a market cap of 3.82B, Clover Health Investments, Corp. holds a total cash of $607.15M that translates into $1.48 per share, while the total debt is of $29.14M.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 109.70%. The current revenue is of $921.74M that is $4.69 per share.

This is a great sign for a bright future.