Clover Health Investments (NASDAQ:CLOV) Given “Buy” Rating at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Clover Health Investments (NASDAQ:CLOV) in a report released on Tuesday,Benzinga reports. They currently have a $3.70 price objective on the stock.

Several other equities analysts have also recently issued reports on the stock. Zacks Research cut shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. Leerink Partners set a $3.00 target price on Clover Health Investments and gave the stock a “market perform” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.23.

Clover Health Investments Trading Up 2.0%

Clover Health Investments stock opened at $2.59 on Tuesday. The stock has a 50-day moving average price of $2.52 and a two-hundred day moving average price of $2.77. Clover Health Investments has a 12 month low of $2.12 and a 12 month high of $4.87. The company has a market capitalization of $1.34 billion, a PE ratio of -23.55 and a beta of 2.12.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.05) earnings per share 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 firm had revenue of $496.65 million for the quarter, compared to the consensus estimate of $467.18 million. As a group, analysts predict that Clover Health Investments will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clover Health Investments

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp bought a new position in Clover Health Investments in the 2nd quarter valued at about $28,000. Clarity Wealth Advisors LLC bought a new position in shares of Clover Health Investments in the second quarter valued at approximately $28,000. Allworth Financial LP boosted 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 valued at $29,000 after buying an additional 6,527 shares during the last quarter. Alteri Wealth LLC bought a new stake in Clover Health Investments during the second quarter worth $30,000. Finally, Envestnet Asset Management Inc. bought a new stake in Clover Health Investments during the second quarter worth $31,000. 19.77% of the stock is owned by 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.