Clover Health Investments, Corp. (NASDAQ:CLOV) Receives Average Recommendation of “Hold” from Brokerages

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have earned an average rating of “Hold” from the five brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $2.90.

Several equities analysts have weighed in on the company. Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Canaccord Genuity Group lowered their target price on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating on the stock in a research note on Friday, March 20th. Leerink Partners dropped their price target on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a research report on Thursday, March 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday, December 29th.

Insider Buying and Selling

In other Clover Health Investments news, CEO Brady Patrick Priest sold 175,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $2.17, for a total transaction of $379,750.00. Following the sale, the chief executive officer directly owned 1,998,584 shares of the company’s stock, valued at $4,336,927.28. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 24.07% of the stock is currently owned by company insiders.

Institutional Trading of Clover Health Investments

Several hedge funds and other institutional investors have recently modified their holdings of CLOV. Abel Hall LLC purchased a new stake in shares of Clover Health Investments during the 4th quarter valued at approximately $27,000. Allworth Financial LP grew its stake in Clover Health Investments by 218.9% in the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after buying an additional 6,527 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Clover Health Investments in the 4th quarter valued at approximately $29,000. Schonfeld Strategic Advisors LLC bought a new stake in Clover Health Investments during the 4th quarter valued at $29,000. Finally, Envestnet Asset Management Inc. bought a new stake in Clover Health Investments during the 2nd quarter valued at $31,000. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Stock Performance

Shares of CLOV stock opened at $1.80 on Friday. The firm has a market cap of $944.40 million, a price-to-earnings ratio of -10.59 and a beta of 2.15. Clover Health Investments has a 52 week low of $1.78 and a 52 week high of $3.92. The firm’s 50-day simple moving average is $2.12 and its two-hundred day simple moving average is $2.54.

Clover Health Investments (NASDAQ:CLOV) last released its earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). Clover Health Investments had a negative net margin of 4.45% and a negative return on equity of 25.17%. The company had revenue of $487.71 million for the quarter, compared to the consensus estimate of $467.06 million. Analysts forecast that Clover Health Investments will post -0.12 earnings per share for the current year.

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.