Clover Health Investments (NASDAQ:CLOV) Shares Gap Up – What’s Next?

Clover Health Investments, Corp. (NASDAQ:CLOV)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $1.87, but opened at $1.93. Clover Health Investments shares last traded at $1.9450, with a volume of 1,442,070 shares.

Wall Street Analyst Weigh In

CLOV has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday, March 27th. Leerink Partners reduced 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 note on Thursday, March 5th. Canaccord Genuity Group cut their target price on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating on the stock in a research report on Friday, March 20th. Finally, Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Clover Health Investments has a consensus rating of “Hold” and an average price target of $2.90.

Clover Health Investments Trading Up 1.1%

The firm has a market capitalization of $1.01 billion, a PE ratio of -11.29 and a beta of 2.24. The firm has a 50-day moving average of $1.98 and a two-hundred day moving average of $2.46.

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

Insider Transactions at Clover Health Investments

In related news, CEO Brady Patrick Priest sold 175,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $2.17, for a total value of $379,750.00. Following the completion of the sale, the chief executive officer directly owned 1,998,584 shares in the company, valued at approximately $4,336,927.28. This represents a 8.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 24.07% of the company’s stock.

Institutional Trading of Clover Health Investments

Large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its holdings 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 purchasing an additional 6,527 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Clover Health Investments in the 1st quarter valued at $37,000. Envestnet Asset Management Inc. acquired a new stake in Clover Health Investments in the 2nd quarter valued at $31,000. Lido Advisors LLC acquired a new stake in Clover Health Investments in the 2nd quarter valued at $32,000. Finally, Abel Hall LLC acquired a new stake in Clover Health Investments in the 4th quarter valued at $27,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

About Clover Health Investments

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.