Clover Health Investments, Corp. (NASDAQ:CLOV) Receives $3.23 Average Price Target from Brokerages

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have received an average recommendation of “Hold” from the five analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $3.2333.

CLOV has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $3.70 target price on shares of Clover Health Investments in a research report on Tuesday, January 20th. Wall Street Zen lowered Clover Health Investments from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Research cut Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Finally, Leerink Partners set a $3.00 price objective on Clover Health Investments and gave the company a “market perform” rating in a research report on Tuesday, October 21st.

Institutional Investors Weigh In On Clover Health Investments

Several hedge funds have recently bought and sold shares of the business. Clarity Wealth Advisors LLC purchased a new position in shares of Clover Health Investments during the second quarter valued at approximately $28,000. Allworth Financial LP increased its position in Clover Health Investments by 218.9% during the 3rd 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 in the last quarter. Alteri Wealth LLC bought a new position in Clover Health Investments during the 2nd quarter valued at approximately $30,000. Envestnet Asset Management Inc. purchased a new position in Clover Health Investments during the second quarter valued at $31,000. Finally, Lido Advisors LLC bought a new stake in Clover Health Investments in the second quarter worth $32,000. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Trading Up 4.4%

Shares of Clover Health Investments stock opened at $2.13 on Thursday. Clover Health Investments has a 12-month low of $2.03 and a 12-month high of $4.80. The company has a market cap of $1.10 billion, a P/E ratio of -19.36 and a beta of 2.09. The company’s fifty day simple moving average is $2.50 and its two-hundred day simple moving average is $2.71.

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.