Shares of Clover Health Investments, Corp. (NASDAQ:CLOV – Get Rating) have earned an average rating of “Hold” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $6.43.
CLOV has been the subject of a number of recent analyst reports. SVB Leerink cut their price objective on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a report on Friday, February 25th. Cowen raised shares of Clover Health Investments from an “underperform” rating to a “market perform” rating and cut their price objective for the company from $7.00 to $3.00 in a report on Wednesday, February 2nd. Canaccord Genuity Group initiated coverage on shares of Clover Health Investments in a report on Wednesday, February 2nd. They issued a “buy” rating and a $6.00 price objective for the company. Canaccord Genuity Group lifted their price objective on shares of Clover Health Investments from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, February 24th. Finally, Zacks Investment Research raised shares of Clover Health Investments from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research note on Tuesday, April 26th.
In other Clover Health Investments news, Director Lee Shapiro purchased 80,000 shares of the stock in a transaction that occurred on Friday, March 11th. The shares were purchased at an average cost of $3.10 per share, for a total transaction of $248,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Chelsea Clinton bought 100,000 shares of the firm’s stock in a transaction on Thursday, March 3rd. The stock was purchased at an average price of $2.53 per share, for a total transaction of $253,000.00. The disclosure for this purchase can be found here.
Hedge funds have recently modified their holdings of the company. Baillie Gifford & Co. increased its stake in Clover Health Investments by 51.4% during the 4th quarter. Baillie Gifford & Co. now owns 7,787,680 shares of the company’s stock worth $28,970,000 after buying an additional 2,645,503 shares during the period. PNC Financial Services Group Inc. increased its stake in Clover Health Investments by 367,220.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,611,767 shares of the company’s stock worth $48,861,000 after buying an additional 6,609,967 shares during the period. BlackRock Inc. increased its position in shares of Clover Health Investments by 53.5% in the 4th quarter. BlackRock Inc. now owns 5,351,416 shares of the company’s stock valued at $19,907,000 after purchasing an additional 1,865,164 shares during the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of Clover Health Investments in the 4th quarter valued at approximately $19,705,000. Finally, Geode Capital Management LLC increased its position in shares of Clover Health Investments by 34.4% in the 4th quarter. Geode Capital Management LLC now owns 2,403,839 shares of the company’s stock valued at $8,942,000 after purchasing an additional 614,777 shares during the last quarter. Hedge funds and other institutional investors own 23.26% of the company’s stock.
Shares of Clover Health Investments stock traded up $0.03 during trading on Tuesday, hitting $2.85. 36,057 shares of the company’s stock were exchanged, compared to its average volume of 5,898,413. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.02 and a current ratio of 2.02. The business has a 50-day simple moving average of $3.06 and a 200-day simple moving average of $4.04. Clover Health Investments has a 52-week low of $1.95 and a 52-week high of $28.85. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -1.97 and a beta of 1.75.
Clover Health Investments (NASDAQ:CLOV – Get Rating) last released its quarterly earnings data on Monday, February 28th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.18). Clover Health Investments had a negative net margin of 39.93% and a negative return on equity of 97.71%. The firm had revenue of $432.04 million during the quarter, compared to analysts’ expectations of $412.00 million. On average, equities analysts anticipate that Clover Health Investments will post -0.93 earnings per share for the current fiscal year.
Clover Health Investments Company Profile (Get Rating)
Clover Health Investments, Corp. operates as a medicare advantage insurer in the United States. The company through its Clover Assistant, a software platform that provides preferred provider organization and health maintenance organization health plans for medicare-eligible consumers. It also focuses on non-insurance businesses.
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