Clover Health Investments, Corp. (NASDAQ:CLOV) Stock Has Consensus Target Price of $4.75 According to Analysts

Clover Health Investments, Corp. (NASDAQ:CLOV) has been assigned an average recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $4.75.

A number of research firms have recently commented on CLOV. Zacks Research upgraded shares of Clover Health Investments to a “hold” rating in a report on Monday, September 14th. UBS Group raised their price target on shares of Clover Health Investments from $4.75 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Clover Health Investments in a report on Thursday, September 10th. They set a “buy” rating and a $6.00 price objective for the company. Wall Street Zen lowered shares of Clover Health Investments from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research report on Monday, September 21st.

Clover Health Investments Stock Down 2.3%

CLOV opened at $4.68 on Tuesday. The business has a fifty day moving average of $4.46 and a 200 day moving average of $3.99. The stock has a market cap of $2.49 billion, a P/E ratio of -93.58 and a beta of 2.45. Clover Health Investments has a 52-week low of $1.58 and a 52-week high of $5.59.

Clover Health Investments (NASDAQ:CLOV) last released its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Clover Health Investments had a negative return on equity of 4.20% and a negative net margin of 0.74%. The business had revenue of $743.17 million for the quarter, compared to analyst estimates of $728.27 million. Equities analysts anticipate that Clover Health Investments will post 0.06 EPS for the current fiscal year.

Insider Activity at Clover Health Investments

In other news, VP Joseph Frank Oldakowski sold 20,000 shares of Clover Health Investments stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $5.16, for a total transaction of $103,200.00. Following the completion of the sale, the vice president owned 279,067 shares of the company’s stock, valued at approximately $1,439,985.72. The trade was a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Karen Soares sold 6,846 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $4.78, for a total value of $32,723.88. Following the completion of the sale, the insider owned 1,607,371 shares of the company’s stock, valued at $7,683,233.38. The trade was a 0.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 736,620 shares of company stock valued at $3,310,691. 23.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CLOV. Bank of New York Mellon Corp bought a new stake in Clover Health Investments during the 2nd quarter valued at $6,346,000. Tidal Investments LLC bought a new position in shares of Clover Health Investments during the 2nd quarter worth $2,156,000. Lazard Asset Management LLC purchased a new position in shares of Clover Health Investments during the first quarter valued at $309,000. WINTON GROUP Ltd purchased a new position in shares of Clover Health Investments during the second quarter valued at $913,000. Finally, AXQ Capital LP increased its stake in shares of Clover Health Investments by 602.6% during the second quarter. AXQ Capital LP now owns 146,569 shares of the company’s stock valued at $768,000 after buying an additional 125,708 shares during the period. Institutional investors own 19.77% of the company’s stock.

About Clover Health Investments

Clover Health Investments, Corp. is a healthcare technology and Medicare Advantage company headquartered in Franklin, Tennessee. Through its insurance subsidiary, Clover Health Insurance Company, the company offers Medicare Advantage plans to eligible beneficiaries in select counties across the United States. Its plans are designed to provide coverage for hospital, medical and supplemental healthcare services through a managed-care structure.

Clover’s technology platform, Clover Assistant, is intended to support physicians by organizing patient information, identifying potential care needs and helping providers coordinate treatment.