Clover Health Investments, Corp. (NASDAQ:CLOV) Given Consensus Rating of “Hold” by Analysts

Clover Health Investments, Corp. (NASDAQ:CLOV) has earned an average recommendation of “Hold” from the five analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $3.2333.

A number of research analysts recently weighed in on CLOV shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. Canaccord Genuity Group reduced their price objective on Clover Health Investments from $4.10 to $3.70 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. 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. Finally, Zacks Research downgraded shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th.

Clover Health Investments Stock Performance

CLOV opened at $2.60 on Friday. Clover Health Investments has a 1 year low of $2.12 and a 1 year high of $4.87. The company’s 50 day simple moving average is $2.57 and its 200 day simple moving average is $2.77. The stock has a market capitalization of $1.34 billion, a PE ratio of -23.64 and a beta of 2.12.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly 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 return on equity of 16.79% and a negative net margin of 3.29%.The company had revenue of $496.65 million for the quarter, compared to analysts’ expectations of $467.18 million. As a group, sell-side analysts expect that Clover Health Investments will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Clover Health Investments

Institutional investors have recently added to or reduced their stakes in the business. Forum Financial Management LP raised its holdings in Clover Health Investments by 8.7% in the third quarter. Forum Financial Management LP now owns 37,237 shares of the company’s stock valued at $114,000 after acquiring an additional 2,990 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Clover Health Investments by 21.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company’s stock worth $69,000 after purchasing an additional 4,426 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Clover Health Investments by 1.2% in the 3rd quarter. Alliancebernstein L.P. now owns 415,985 shares of the company’s stock valued at $1,273,000 after purchasing an additional 5,085 shares in the last quarter. Swiss Life Asset Management Ltd lifted its position in shares of Clover Health Investments by 53.5% during the third quarter. Swiss Life Asset Management Ltd now owns 17,002 shares of the company’s stock worth $52,000 after purchasing an additional 5,926 shares during the last quarter. Finally, Allworth Financial LP lifted its position 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 purchasing an additional 6,527 shares during the last quarter. 19.77% of the stock is owned by hedge funds and other institutional investors.

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.