The stock of Clover Health Investments Corp. (NASDAQ:CLOV) last traded at $1.23, down -1.60% from the previous session.
Data from the available sources indicates that Clover Health Investments Corp. (NASDAQ:CLOV) is covered by 6 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $4.00 and a low of $1.50, we find $1.90. Given the previous closing price of $1.25, this indicates a potential upside of 52.0 percent. CLOV stock price is now -25.30% away from the 50-day moving average and -50.29% away from the 200-day moving average. The market capitalization of the company currently stands at $565.80M.
In total, 3 analysts have assigned it a hold rating, and 1 have given it a buy rating. Brokers who have rated the stock have averaged $2.26 as their price target over the next twelve months.
With the price target reduced from $7 to $3, Cowen Upgraded its rating from Underperform to Market Perform for Clover Health Investments Corp. (NASDAQ: CLOV). On February 02, 2022, Canaccord Genuity recently initiated its ‘Buy’ rating on the stock quoting a target price of $6, while ‘SVB Leerink’ rates the stock as ‘Mkt Perform’.
In other news, SHAPIRO LEE, Director bought 80,000 shares of the company’s stock on Mar 11. The stock was bought for $248,072 at an average price of $3.10. Upon completion of the transaction, the Director now directly owns 107,100 shares in the company, valued at $0.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 03, Director Clinton Chelsea bought 100,000 shares of the business’s stock. A total of $252,530 was incurred on buying the stock at an average price of $2.53. This leaves the insider owning 100,000 shares of the company worth $0.12 million. A total of 3.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CLOV stock. A new stake in Clover Health Investments Corp. shares was purchased by DIMENSIONAL FUND ADVISORS LP during the first quarter worth $501,000. HRT FINANCIAL LP invested $273,000 in shares of CLOV during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT LLC acquired a new stake in Clover Health Investments Corp. valued at approximately $260,000. ETF MANAGERS GROUP, LLC acquired a new stake in CLOV for approximately $256,000. HAP TRADING, LLC purchased a new stake in CLOV valued at around $171,000 in the second quarter. In total, there are 232 active investors with 32.50% ownership of the company’s stock.
With an opening price of $1.2400 on Wednesday morning, Clover Health Investments Corp. (NASDAQ: CLOV) set off the trading day. During the past 12 months, Clover Health Investments Corp. has had a low of $1.21 and a high of $5.57. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.30, and a quick ratio of 1.30. The fifty day moving average price for CLOV is $1.6240 and a two-hundred day moving average price translates $2.4665 for the stock.
The latest earnings results from Clover Health Investments Corp. (NASDAQ: CLOV) was released for Jun, 2022. According to the Healthcare Plans Company, earnings per share came in at -$0.22, missing analysts’ expectations of -$0.21 by -0.01. This compares to -$0.08 EPS in the same period last year. The net profit margin was -14.70% and return on equity was -95.90% for CLOV. The company reported revenue of $856.82 million for the quarter, compared to $427.16 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 100.58 percent. For the current quarter, analysts expect CLOV to generate $799.46M in revenue.
Clover Health Investments Corp.(CLOV) Company Profile
Clover Health Investments, Corp. operates as a medicare advantage insurer in the United States. The company through its Clover Assistant, a software platform that provides preferred provider organization and health maintenance organization health plans for medicare-eligible consumers. It also focuses on non-insurance businesses. Clover Health Investments, Corp. was incorporated in 2014 and is based in Franklin, Tennessee.