Clover Health Investments (NASDAQ:CLOV) Raised to “Hold” at Wall Street Zen

Clover Health Investments (NASDAQ:CLOV) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Several other equities analysts have also commented on the company. Leerink Partners set a $3.00 target price on Clover Health Investments and gave the company a “market perform” rating in a research note on Tuesday, October 21st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $3.70 price objective on shares of Clover Health Investments in a research note on Tuesday, January 20th. Zacks Research lowered shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Clover Health Investments currently has a consensus rating of “Hold” and a consensus price target of $3.23.

Clover Health Investments Stock Performance

Shares of NASDAQ CLOV opened at $2.02 on Friday. The firm’s 50 day moving average price is $2.44 and its 200 day moving average price is $2.66. The firm has a market cap of $1.04 billion, a P/E ratio of -18.36 and a beta of 2.09. Clover Health Investments has a 1 year low of $2.01 and a 1 year high of $4.80.

Institutional Investors Weigh In On Clover Health Investments

Several hedge funds have recently modified their holdings of the stock. Clarity Wealth Advisors LLC purchased a new position in Clover Health Investments in the 2nd quarter worth approximately $28,000. Allworth Financial LP lifted its position in shares of Clover Health Investments by 218.9% during the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock worth $29,000 after purchasing an additional 6,527 shares in the last quarter. Alteri Wealth LLC purchased a new position in shares of Clover Health Investments in the second quarter valued at $30,000. Envestnet Asset Management Inc. acquired a new stake in Clover Health Investments during the 2nd quarter valued at $31,000. Finally, Lido Advisors LLC acquired a new stake in Clover Health Investments during the 2nd quarter valued at $32,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

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.