Clover Health Investments, Corp. (NASDAQ:CLOV) Given Consensus Rating of “Hold” by Brokerages

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have been given a consensus rating of “Hold” by the five research firms that are currently covering the company, MarketBeat reports. One 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 12-month price target among analysts that have updated their coverage on the stock in the last year is $3.2333.

Several research analysts have recently issued reports on CLOV shares. Zacks Research lowered Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Canaccord Genuity Group cut their target price on Clover Health Investments from $4.10 to $3.70 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday. Finally, Leerink Partners set a $3.00 price target on shares of Clover Health Investments and gave the company a “market perform” rating in a research report on Tuesday, October 21st.

Clover Health Investments Price Performance

Shares of NASDAQ:CLOV opened at $2.64 on Wednesday. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -24.00 and a beta of 2.24. The company has a 50 day moving average of $2.78 and a 200-day moving average of $2.83. Clover Health Investments has a one year low of $2.12 and a one year high of $4.87.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.07). Clover Health Investments had a negative net margin of 3.29% and a negative return on equity of 16.79%. The business had revenue of $496.65 million during the quarter, compared to the consensus estimate of $467.18 million. Equities research analysts anticipate that Clover Health Investments will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Clover Health Investments

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Caxton Associates LLP acquired a new position in shares of Clover Health Investments in the 1st quarter valued at $1,599,000. Soviero Asset Management LP grew its stake in Clover Health Investments by 260.0% in the second quarter. Soviero Asset Management LP now owns 900,000 shares of the company’s stock valued at $2,511,000 after acquiring an additional 650,000 shares during the period. Rhumbline Advisers grew its stake in Clover Health Investments by 8,149.2% in the second quarter. Rhumbline Advisers now owns 584,459 shares of the company’s stock valued at $1,631,000 after acquiring an additional 577,374 shares during the period. Geode Capital Management LLC increased its holdings in shares of Clover Health Investments by 95.7% in the second quarter. Geode Capital Management LLC now owns 9,843,349 shares of the company’s stock worth $27,467,000 after acquiring an additional 4,812,368 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Clover Health Investments during the second quarter worth about $858,000. 19.77% of the stock is owned by institutional investors.

About Clover Health Investments

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.