Clover Health Investments (NASDAQ:CLOV) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Clover Health Investments (NASDAQ:CLOV) from a sell rating to a hold rating in a report released on Saturday.

Several other brokerages have also recently commented on CLOV. Leerink Partners set a $3.00 price target on Clover Health Investments and gave the company a “market perform” rating in a research report on Tuesday, October 21st. Zacks Research cut Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Canaccord Genuity Group decreased their target price on shares of Clover Health Investments from $4.10 to $3.70 and set a “buy” rating for the company in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 8th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.93.

Clover Health Investments Stock Performance

NASDAQ CLOV opened at $2.62 on Friday. Clover Health Investments has a 52 week low of $2.12 and a 52 week high of $4.87. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -23.82 and a beta of 2.24. The stock’s 50 day moving average price is $2.78 and its two-hundred day moving average price is $2.83.

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

Hedge Funds Weigh In On Clover Health Investments

Institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp bought a new stake in shares of Clover Health Investments during the 2nd quarter worth about $28,000. Clarity Wealth Advisors LLC acquired a new stake in Clover Health Investments during the second quarter worth approximately $28,000. Allworth Financial LP boosted its holdings in shares of Clover Health Investments by 218.9% during the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock worth $29,000 after acquiring an additional 6,527 shares during the period. Alteri Wealth LLC acquired a new position in shares of Clover Health Investments in the second quarter valued at approximately $30,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Clover Health Investments in the second quarter valued at approximately $31,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Clover Health Investments Company Profile

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.