Shares of Clover Health Investments, Corp. (NASDAQ:CLOV – Get Free Report) have been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $5.10.
CLOV has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Monday, September 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of Clover Health Investments in a research report on Thursday, September 10th. They set a “buy” rating and a $6.00 price objective on the stock. Canaccord Genuity Group boosted their price target on Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Needham & Company LLC restated a “buy” rating on shares of Clover Health Investments in a research report on Thursday. Finally, UBS Group boosted their price target on Clover Health Investments from $5.00 to $5.50 and gave the stock a “neutral” rating in a report on Thursday.
Get Our Latest Research Report on CLOV
Clover Health Investments Stock Performance
Shares of CLOV stock opened at $4.82 on Friday. The firm has a market capitalization of $2.56 billion, a PE ratio of 482.48 and a beta of 2.52. The stock has a fifty day simple moving average of $4.54 and a two-hundred day simple moving average of $3.59. Clover Health Investments has a 52-week low of $1.58 and a 52-week high of $5.59.
Clover Health Investments (NASDAQ:CLOV – Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $759.30 million during the quarter, compared to analysts’ expectations of $740.07 million. Clover Health Investments had a negative net margin of 0.74% and a negative return on equity of 4.20%. On average, sell-side analysts forecast that Clover Health Investments will post 0.06 EPS for the current fiscal year.
Insider Activity at Clover Health Investments
In related news, insider Karen Soares sold 19,275 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $4.66, for a total value of $89,821.50. Following the completion of the sale, the insider owned 1,573,423 shares in the company, valued at approximately $7,332,151.18. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Frank Oldakowski sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $5.16, for a total value of $103,200.00. Following the transaction, the vice president owned 279,067 shares in the company, valued at $1,439,985.72. This represents a 6.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 856,371 shares of company stock worth $3,870,740. 23.51% of the stock is owned by company insiders.
Hedge Funds Weigh In On Clover Health Investments
A number of institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP increased its holdings in Clover Health Investments by 200.7% in the 3rd quarter. Allworth Financial LP now owns 12,281 shares of the company’s stock worth $53,000 after buying an additional 8,197 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Clover Health Investments by 14.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 129,871 shares of the company’s stock valued at $560,000 after acquiring an additional 16,086 shares during the last quarter. Vise Technologies Inc. acquired a new position in Clover Health Investments during the third quarter valued at approximately $115,000. State of Wyoming lifted its holdings in shares of Clover Health Investments by 20.1% during the 3rd quarter. State of Wyoming now owns 94,729 shares of the company’s stock worth $408,000 after acquiring an additional 15,857 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in Clover Health Investments by 847.9% during the 3rd quarter. Sterling Capital Management LLC now owns 14,000 shares of the company’s stock valued at $60,000 after acquiring an additional 12,523 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors.
About Clover Health Investments
Clover Health Investments, Corp. is a health insurance technology company focused on providing Medicare Advantage plans to eligible seniors in the United States. Its plans combine hospital, medical and prescription drug coverage with additional benefits that may vary by plan and location.
The company uses its Clover Assistant technology platform to provide physicians with data-driven insights intended to support clinical decision-making and care coordination. The platform aggregates member health information and helps participating providers identify care opportunities, manage chronic conditions and engage with patients.
Clover Health was founded in 2012 and became a publicly traded company in 2021 through a merger with a special purpose acquisition company.
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