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

Clover Health Investments, Corp. (NASDAQ:CLOV) has earned a consensus recommendation of “Hold” from the five analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $3.2333.

CLOV has been the subject of a number of analyst reports. Leerink Partners set a $3.00 price target on Clover Health Investments and gave the stock a “market perform” rating in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Monday, December 29th. Canaccord Genuity Group reiterated a “buy” rating and issued a $3.70 target price on shares of Clover Health Investments in a research note on Tuesday, January 20th. Wall Street Zen lowered shares of Clover Health Investments from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Zacks Research lowered shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CLOV. Geode Capital Management LLC increased its holdings in shares of Clover Health Investments by 95.7% during the 2nd quarter. Geode Capital Management LLC now owns 9,843,349 shares of the company’s stock valued at $27,467,000 after purchasing an additional 4,812,368 shares in the last quarter. Divisadero Street Capital Management LP purchased a new stake in Clover Health Investments during the 3rd quarter valued at about $8,470,000. Bank of America Corp DE grew its position in Clover Health Investments by 217.5% in the second quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock worth $11,196,000 after acquiring an additional 2,748,783 shares during the period. First Trust Advisors LP acquired a new position in Clover Health Investments in the second quarter valued at about $4,149,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Clover Health Investments by 199.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,140,282 shares of the company’s stock valued at $6,551,000 after acquiring an additional 1,425,391 shares during the last quarter. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Clover Health Investments Price Performance

Clover Health Investments stock opened at $2.07 on Thursday. The stock has a market capitalization of $1.07 billion, a PE ratio of -18.82 and a beta of 2.09. Clover Health Investments has a one year low of $2.03 and a one year high of $4.80. The business’s fifty day moving average is $2.47 and its 200 day moving average is $2.68.

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.