Clover Health Investments (NASDAQ:CLOV) Rating Increased to Hold at Wall Street Zen

Clover Health Investments (NASDAQ:CLOV) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Other analysts have also issued reports about the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $3.70 price objective on shares of Clover Health Investments in a research note on Tuesday, January 20th. Leerink Partners set a $3.00 price objective on shares of Clover Health Investments and gave the stock a “market perform” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. Finally, Zacks Research lowered shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. One 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, Clover Health Investments has an average rating of “Hold” and a consensus target price of $3.23.

Clover Health Investments Price Performance

Shares of Clover Health Investments stock opened at $2.02 on Friday. The stock’s 50-day simple moving average is $2.45 and its 200-day simple moving average is $2.67. Clover Health Investments has a 52 week low of $2.01 and a 52 week high of $4.80. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -18.36 and a beta of 2.09.

Hedge Funds Weigh In On Clover Health Investments

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Forum Financial Management LP raised its stake in Clover Health Investments by 8.7% during the 3rd quarter. Forum Financial Management LP now owns 37,237 shares of the company’s stock worth $114,000 after acquiring an additional 2,990 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Clover Health Investments by 21.7% in the second quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company’s stock valued at $69,000 after acquiring an additional 4,426 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Clover Health Investments by 1.2% during the 3rd quarter. Alliancebernstein L.P. now owns 415,985 shares of the company’s stock worth $1,273,000 after buying an additional 5,085 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Clover Health Investments by 8.2% in the fourth quarter. ProShare Advisors LLC now owns 74,700 shares of the company’s stock valued at $176,000 after acquiring an additional 5,660 shares during the period. Finally, Swiss Life Asset Management Ltd grew its position in 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 buying an additional 5,926 shares during the period. 19.77% of the stock is owned by institutional investors and hedge funds.

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.