Clover Health Investments, Corp. (NASDAQ:CLOV) Receives Average Rating of “Hold” from Analysts

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have received an average recommendation of “Hold” from the five analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $3.2333.

Several brokerages recently commented on CLOV. Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Leerink Partners set a $3.00 price objective on Clover Health Investments and gave the stock a “market perform” rating in a research note on Tuesday, October 21st. Canaccord Genuity Group cut their price objective on Clover Health Investments from $4.10 to $3.70 and set a “buy” rating for the company in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. Finally, Zacks Research cut shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th.

Institutional Trading of Clover Health Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP raised its stake in Clover Health Investments by 218.9% during the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after purchasing an additional 6,527 shares during the period. Clarity Wealth Advisors LLC purchased a new position in shares of Clover Health Investments during the second quarter valued at $28,000. Fifth Third Bancorp acquired a new position in Clover Health Investments during the second quarter valued at $28,000. Integrated Wealth Concepts LLC acquired a new position in Clover Health Investments during the first quarter valued at $37,000. Finally, Alteri Wealth LLC purchased a new stake in Clover Health Investments in the 2nd quarter worth about $30,000. 19.77% of the stock is owned by institutional investors and hedge funds.

Clover Health Investments Stock Up 2.8%

CLOV stock opened at $2.60 on Friday. The company has a 50-day simple moving average of $2.57 and a 200 day simple moving average of $2.77. The company has a market capitalization of $1.34 billion, a P/E ratio of -23.64 and a beta of 2.12. Clover Health Investments has a fifty-two week low of $2.12 and a fifty-two week high of $4.87.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.07). The company had revenue of $496.65 million for the quarter, compared to the consensus estimate of $467.18 million. Clover Health Investments had a negative return on equity of 16.79% and a negative net margin of 3.29%. Equities analysts anticipate that Clover Health Investments will post -0.12 EPS for the current year.

Clover Health Investments Company Profile

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.