Clover Health Investments (NASDAQ:CLOV) Reaches New 1-Year Low – Here’s Why

Clover Health Investments, Corp. (NASDAQ:CLOV)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $2.09 and last traded at $2.1550, with a volume of 7383783 shares changing hands. The stock had previously closed at $2.20.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CLOV. 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday, December 29th. Canaccord Genuity Group restated a “buy” rating and set a $3.70 price objective on shares of Clover Health Investments in a research report on Tuesday, January 20th. Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Leerink Partners set a $3.00 target price on Clover Health Investments and gave the stock a “market perform” rating in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Clover Health Investments currently has an average rating of “Hold” and an average target price of $3.23.

Clover Health Investments Stock Performance

The stock’s fifty day simple moving average is $2.53 and its 200-day simple moving average is $2.73. The stock has a market cap of $1.11 billion, a P/E ratio of -19.55 and a beta of 2.12.

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

Institutional Trading of Clover Health Investments

A number of institutional investors have recently modified their holdings of CLOV. Allworth Financial LP raised its stake in Clover Health Investments by 218.9% in the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after purchasing an additional 6,527 shares in the last quarter. Clarity Wealth Advisors LLC acquired a new stake in Clover Health Investments during the second quarter worth about $28,000. Integrated Wealth Concepts LLC bought a new position in Clover Health Investments in the 1st quarter valued at about $37,000. Alteri Wealth LLC acquired a new position in shares of Clover Health Investments in the 2nd quarter valued at approximately $30,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Clover Health Investments during the 2nd quarter worth approximately $31,000. 19.77% of the stock is currently owned by institutional investors.

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.