Clover Health Investments, Corp. (NASDAQ:CLOV) Receives $2.90 Average Target Price from Analysts

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have received a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $2.90.

CLOV has been the subject of several research reports. Canaccord Genuity Group cut their price target on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a research note on Friday, March 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday, March 27th. Wall Street Zen raised shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. Finally, Leerink Partners cut their target price on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research note on Thursday, March 5th.

Insiders Place Their Bets

In related news, CEO Brady Patrick Priest sold 175,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $2.17, for a total value of $379,750.00. Following the completion of the transaction, the chief executive officer owned 1,998,584 shares of the company’s stock, valued at approximately $4,336,927.28. The trade was a 8.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 24.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP acquired a new position in Clover Health Investments in the 3rd quarter valued at about $8,470,000. Principal Financial Group Inc. raised its stake in Clover Health Investments by 1,590.3% in the 3rd quarter. Principal Financial Group Inc. now owns 485,433 shares of the company’s stock valued at $1,485,000 after purchasing an additional 456,715 shares during the last quarter. Consolidated Portfolio Review Corp raised its stake in Clover Health Investments by 178.0% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 104,442 shares of the company’s stock valued at $320,000 after purchasing an additional 66,868 shares during the last quarter. 111 Capital acquired a new position in Clover Health Investments in the 3rd quarter valued at about $42,000. Finally, Arizona State Retirement System raised its stake in Clover Health Investments by 6.0% in the 3rd quarter. Arizona State Retirement System now owns 123,026 shares of the company’s stock valued at $376,000 after purchasing an additional 6,989 shares during the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Stock Down 4.0%

NASDAQ:CLOV opened at $2.40 on Tuesday. The company has a market capitalization of $1.26 billion, a PE ratio of -14.12 and a beta of 2.24. Clover Health Investments has a 52-week low of $1.58 and a 52-week high of $3.92. The stock has a fifty day simple moving average of $1.99 and a 200-day simple moving average of $2.40.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $487.71 million for the quarter, compared to analyst estimates of $467.06 million. Clover Health Investments had a negative return on equity of 25.17% and a negative net margin of 4.45%. As a group, equities analysts anticipate that Clover Health Investments will post -0.02 earnings per share for the current year.

About Clover Health Investments

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.