Clover Health Investments Corp Down 19.65% To $0.91 After Earnings Beat

Clover Health Investments Corp (CLOV) said after close Monday that it lost $0.09 per share in quarter three 2023.

On the revenue line, the company reported $482.1 million, missing estimates by $12.5 million.

In the same quarter a year ago, the company lost $0.16 per share on revenue of $856.8 million.

The stock is down 19.65% to $0.91 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

Trading in the five days leading up to the report earned Clover Health Investments Corp a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 56. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Clover Health Investments Corp is a healthcare technology company. It uses its proprietary technology platform to collect, structure, and analyze health and behavioral data to improve medical outcomes and lower costs for patients.