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

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have been given a consensus recommendation of “Hold” by the five analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $2.90.

CLOV has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday, March 27th. Canaccord Genuity Group decreased their price target on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a research note on Friday, March 20th. Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. Finally, Leerink Partners decreased their price target on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research note on Thursday, March 5th.

Insider Buying and Selling

In other Clover Health Investments news, CEO Brady Patrick Priest sold 98,039 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $3.52, for a total value of $345,097.28. Following the completion of the sale, the chief executive officer directly owned 2,040,222 shares in the company, valued at approximately $7,181,581.44. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 23.51% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLOV. Abel Hall LLC purchased a new position in shares of Clover Health Investments in the fourth quarter worth about $27,000. Allworth Financial LP raised its stake in shares of Clover Health Investments by 218.9% in the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock worth $29,000 after purchasing an additional 6,527 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Clover Health Investments in the fourth quarter worth about $29,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Clover Health Investments in the fourth quarter worth about $29,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Clover Health Investments in the second quarter worth about $31,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Clover Health Investments Price Performance

Shares of NASDAQ CLOV opened at $3.47 on Friday. The stock has a market capitalization of $1.83 billion, a P/E ratio of -28.91 and a beta of 2.44. Clover Health Investments has a 1-year low of $1.58 and a 1-year high of $3.92. The business has a fifty day moving average price of $2.24 and a 200 day moving average price of $2.41.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. The business had revenue of $749.19 million during the quarter, compared to analysts’ expectations of $714.89 million. As a group, equities research analysts anticipate that Clover Health Investments will post -0.02 earnings per share for the current fiscal 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.