Clover Health Investments (NASDAQ:CLOV) Upgraded by Wall Street Zen to “Hold” Rating

Clover Health Investments (NASDAQ:CLOV) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

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

Clover Health Investments Stock Performance

CLOV stock opened at $2.70 on Friday. Clover Health Investments has a 1 year low of $2.12 and a 1 year high of $4.87. The stock’s 50 day moving average price is $2.78 and its 200 day moving average price is $2.84. The firm has a market cap of $1.40 billion, a P/E ratio of -24.55 and a beta of 2.24.

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

Institutional Investors Weigh In On Clover Health Investments

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Clover Health Investments by 5.1% in the first quarter. Vanguard Group Inc. now owns 20,580,117 shares of the company’s stock worth $73,883,000 after purchasing an additional 994,904 shares in the last quarter. Deutsche Bank AG grew its position in shares of Clover Health Investments by 149.4% in the 1st quarter. Deutsche Bank AG now owns 16,307 shares of the company’s stock worth $59,000 after acquiring an additional 9,768 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Clover Health Investments by 15.9% in the 1st quarter. American Century Companies Inc. now owns 886,573 shares of the company’s stock valued at $3,183,000 after acquiring an additional 121,879 shares during the last quarter. Adams Wealth Management acquired a new stake in shares of Clover Health Investments during the 1st quarter valued at approximately $89,000. Finally, CacheTech Inc. acquired a new stake in shares of Clover Health Investments during the 1st quarter valued at approximately $89,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

About Clover Health Investments

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.