CLOV Continues to Dip After Earnings

During the last session, 17M of Clover Health Investments, Corp.’s (NasdaqGS:CLOV) shares were traded. The stock closed at $7.18 per share indicating that it lost -$0.35 or -4.65% during that day which brings the Clover Health Investments, Corp.’s valuation to $1.82B.

The 52-week high for the Clover Health Investments, Corp.’s shares is $28.85. That puts it -75.11% from that peak but still a nice 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%.

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 23M, while in the last 10 days the average was 12.01M and last three months – 22.62M.
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. (NasdaqGS:CLOV)’s financials

With a market cap of $1.82B, Clover Health Investments, Corp. holds 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 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.