The CLOV stock price fluctuated between $7.61 and $8.03 throughout the trading session with the volume trading being 21M shares, which represented a negative variation when compared to the three months average volume of 30M shares.
The share price of Clover Health Investments, Corp. (NasdaqGS:CLOV) dipped -2.96% to close Tuesday’s market session at $7.86, lower as compared to yesterday’s close which brings the market valuation of the company to $3.36B.
The 52-week high for the Clover Health Investments, Corp.’s shares is $28.85. That puts it -72.76% from that peak but still a -34.99% 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 32.12%.
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 30M, while in the last 10 days the average was 18.47M and last three months – 30.33M.
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 31.02M shares being shorted which translates into 0.98 of a short ratio for CLOV, while in the previous month the shorted shares were 30.27M.
Clover Health Investments, Corp.’s (NasdaqGS:CLOV) financials
With a market cap of 3.36B, 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.