Stocks of Clover Health Investments Corp. (NASDAQ:CLOV) traded higher last session on Wall Street, up 3.17% to $1.03.
According to the data, Clover Health Investments Corp. (NASDAQ:CLOV) has 6 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $3.00 and a low of $0.75, we find $1.13. Given the previous closing price of $1.00, this indicates a potential upside of 13.0 percent. CLOV stock price is now 11.34% away from the 50-day moving average and -7.44% away from the 200-day moving average. The market capitalization of the company currently stands at $487.24M.
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A total of 3 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $1.46 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).
Insiders disposed of 553,710 shares of company stock worth roughly $0.57 million over the past 1 year. 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 CREDIT AGRICOLE S A during the first quarter worth $150,000. GRAHAM CAPITAL MANAGEMENT, L.P. invested $119,000 in shares of CLOV during the first quarter. In the first quarter, CAPTRUST FINANCIAL ADVISORS acquired a new stake in Clover Health Investments Corp. valued at approximately $41,000. TWO SIGMA ADVISERS, LP acquired a new stake in CLOV for approximately $31,000. JAFFETILCHIN INVESTMENT PARTNERS, LLC purchased a new stake in CLOV valued at around $19,000 in the second quarter. In total, there are 215 active investors with 32.50% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $0.9830 for Clover Health Investments Corp. (NASDAQ: CLOV). During the past 12 months, Clover Health Investments Corp. has had a low of $0.71 and a high of $3.55. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.10, and a quick ratio of 1.10. The fifty day moving average price for CLOV is $0.9304 and a two-hundred day moving average price translates $1.1078 for the stock.
The latest earnings results from Clover Health Investments Corp. (NASDAQ: CLOV) was released for Mar, 2023. According to the Healthcare Plans Company, earnings per share came in at -$0.15, beating analysts’ expectations of -$0.18 by 0.03. This compares to -$0.16 EPS in the same period last year. The net profit margin was -10.70% and return on equity was -89.70% for CLOV. The company reported revenue of $527.77 million for the quarter, compared to $874.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -39.64 percent. For the current quarter, analysts expect CLOV to generate $490.82M in revenue.
Clover Health Investments Corp.(CLOV) Company Profile
Clover Health Investments, Corp. provides medicare advantage plans 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. The company was incorporated in 2014 and is based in Franklin, Tennessee.
