Clover Health Investments Corp. (NASDAQ:CLOV) shares traded -8.27% lower at $1.22 on Wall Street last session.
In accordance with the data, 6 analysts cover Clover Health Investments Corp. (NASDAQ:CLOV). 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 $0.90, we find $1.50. Given the previous closing price of $1.33, this indicates a potential upside of 12.78 percent. CLOV stock price is now 0.72% away from the 50-day moving average and 15.01% away from the 200-day moving average. The market capitalization of the company currently stands at $617.49M.
It has been rated a hold by 3 analysts and a buy by 1. Brokers who have rated the stock have averaged $1.65 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).
In other news, Loengard Anna U, Director bought 11,000 shares of the company’s stock on Sep 06. The stock was bought for $14,300 at an average price of $1.30. Upon completion of the transaction, the Director now directly owns 10,000 shares in the company, valued at $12200.0. Insiders disposed of 1,359,078 shares of company stock worth roughly $1.66 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 GMT CAPITAL CORP during the first quarter worth $1,592,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. invested $967,000 in shares of CLOV during the first quarter. In the first quarter, Y-INTERCEPT (HONG KONG) LTD acquired a new stake in Clover Health Investments Corp. valued at approximately $475,000. POINT72 MIDDLE EAST FZE acquired a new stake in CLOV for approximately $460,000. XTX TOPCO LTD purchased a new stake in CLOV valued at around $331,000 in the second quarter. In total, there are 202 active investors with 32.50% ownership of the company’s stock.
Clover Health Investments Corp. (NASDAQ: CLOV) opened at $1.3000 on Wednesday. During the past 12 months, Clover Health Investments Corp. has had a low of $0.71 and a high of $2.49. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.20, and a quick ratio of 1.20. The fifty day moving average price for CLOV is $1.2182 and a two-hundred day moving average price translates $1.0607 for the stock.
The latest earnings results from Clover Health Investments Corp. (NASDAQ: CLOV) was released for Jun, 2023. According to the Healthcare Plans Company, earnings per share came in at -$0.06, beating analysts’ expectations of -$0.15 by 0.09. This compares to -$0.22 EPS in the same period last year. The net profit margin was -9.30% and return on equity was -74.40% for CLOV. The company reported revenue of $513.63 million for the quarter, compared to $846.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -39.34 percent. For the current quarter, analysts expect CLOV to generate $482.23M 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.
