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

Clover Health Investments, Corp. (NASDAQ:CLOV) has earned an average rating of “Hold” from the five analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $3.2333.

CLOV has been the subject of several research reports. Canaccord Genuity Group increased their price target on shares of Clover Health Investments from $3.20 to $4.20 and gave the company a “buy” rating in a research report on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a report on Friday, March 27th. Leerink Partners dropped their price objective on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a report on Thursday, March 5th. Finally, Wall Street Zen raised shares of Clover Health Investments from a “hold” rating to a “buy” rating in a report on Saturday.

Insider Buying and Selling at Clover Health Investments

In other Clover Health Investments news, Director Carladenise Armbrister Edwards sold 67,160 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $3.42, for a total transaction of $229,687.20. Following the sale, the director directly owned 285,432 shares of the company’s stock, valued at $976,177.44. This represents a 19.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Conrad Wai sold 220,426 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $3.99, for a total transaction of $879,499.74. Following the sale, the chief executive officer directly owned 1,390,056 shares in the company, valued at approximately $5,546,323.44. This trade represents a 13.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 385,625 shares of company stock valued at $1,454,284 over the last three months. 23.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clover Health Investments

Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its holdings in Clover Health Investments by 24.1% during the first quarter. California State Teachers Retirement System now owns 497,006 shares of the company’s stock valued at $875,000 after purchasing an additional 96,458 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Clover Health Investments during the first quarter valued at about $309,000. Sei Investments Co. lifted its holdings in Clover Health Investments by 109.7% during the first quarter. Sei Investments Co. now owns 88,701 shares of the company’s stock valued at $156,000 after purchasing an additional 46,404 shares during the last quarter. State of Wyoming lifted its holdings in shares of Clover Health Investments by 21.3% in the first quarter. State of Wyoming now owns 93,213 shares of the company’s stock worth $164,000 after buying an additional 16,352 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Clover Health Investments in the first quarter worth about $66,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

Clover Health Investments Stock Performance

CLOV opened at $4.29 on Wednesday. The firm has a market cap of $2.26 billion, a P/E ratio of -35.75 and a beta of 2.54. The firm has a 50-day moving average of $2.86 and a 200 day moving average of $2.50. Clover Health Investments has a fifty-two week low of $1.58 and a fifty-two week high of $4.44.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $749.19 million for the quarter, compared to the consensus estimate of $714.89 million. Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%.

About Clover Health Investments

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.