CLOV Dips on Share Offering: What’s Next?

During the last session 32M of Clover Health Investments, Corp. (NasdaqGS:CLOV)’s shares were traded. The stock closed at $6.94 per share indicating that it lost -$0.62 or -8.2% during that day which brings the Clover Health Investments, Corp.’s valuation to $3.01B.

The 52-week high for the Clover Health Investments, Corp.’s shares is $28.85. That puts it -75.94% from that peak with a 52-week low of $6.31, while the S&P 500’s share price change was of 31.76%.

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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 20M, while in the last 10 days the average was 16.17M and last three months – 19.75M.

Shrinking short interest

The Clover Health Investments, Corp.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 29.16M shares being shorted which translates into 2.53 of a short ratio for CLOV, while in the previous month the shorted shares were 31.83M.

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

With a market cap of 3.01B, Clover Health Investments, Corp. holds a total cash of $442.1M that translates into $1.05 per share, while the total debt is of $28.48M.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 139.30%. The current revenue is of $1.16B that is $4.07 per share.

This is a great sign for a bright future.