21/06/2024

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Clover Health Investments (NASDAQ:CLOV) Shares Gap Down Following Analyst Downgrade

Clover Health Investments (NASDAQ:CLOV) Shares Gap Down Following Analyst Downgrade

Shares of Clover Overall health Investments, Corp. (NASDAQ:CLOVGet Ranking) gapped down prior to trading on Tuesday soon after Credit rating Suisse Group lowered their rate concentrate on on the stock from $3.50 to $3.00. The stock had previously shut at $3.40, but opened at $3.01. Credit rating Suisse Group now has an underperform score on the stock. Clover Wellbeing Investments shares very last traded at $2.83, with a volume of 113,285 shares traded.

Separately, Citigroup boosted their cost concentrate on on shares of Clover Well being Investments from $3.00 to $3.50 and gave the inventory a “neutral” score in a research take note on Tuesday. 1 analyst has rated the stock with a promote rating, a few have issued a hold ranking and two have issued a get ranking to the firm. Primarily based on info from MarketBeat, Clover Health Investments has an regular ranking of “Hold” and an normal price tag target of $4.17.

Hedge Funds Weigh In On Clover Well being Investments

Institutional traders have lately bought and offered shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Clover Overall health Investments by 181.3% throughout the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,668 shares of the company’s stock worth $166,000 right after buying an supplemental 28,788 shares in the final quarter. Sigma Organizing Corp obtained a new stake in shares of Clover Overall health Investments all through the 4th quarter value about $44,000. Advisor Team Holdings Inc. boosted its stake in shares of Clover Overall health Investments by 20.2% in the course of the 4th quarter. Advisor Group Holdings Inc. now owns 176,455 shares of the company’s inventory well worth $658,000 just after obtaining an more 29,651 shares through the very last quarter. Cambridge Investment decision Research Advisors Inc. boosted its stake in shares of Clover Well being Investments by 56.9% during the 4th quarter. Cambridge Financial investment Research Advisors Inc. now owns 49,777 shares of the company’s stock truly worth $185,000 right after paying for an supplemental 18,055 shares throughout the previous quarter. Last but not least, Arizona Point out Retirement Technique boosted its stake in shares of Clover Overall health Investments by 147.8% during the 4th quarter. Arizona Point out Retirement System now owns 80,054 shares of the company’s inventory really worth $298,000 following purchasing an added 47,742 shares all through the last quarter. 23.26% of the stock is owned by hedge money and other institutional investors.

Clover Well being Investments Selling price Performance

The company’s 50 working day easy transferring typical is $2.51 and its 200-working day uncomplicated shifting ordinary is $2.72. The enterprise has a recent ratio of 1.16, a swift ratio of 1.16 and a credit card debt-to-fairness ratio of .04. The business has a current market capitalization of $1.32 billion, a rate-to-earnings ratio of -1.90 and a beta of 1.99.

Clover Wellbeing Investments (NASDAQ:CLOVGet Score) past posted its quarterly earnings effects on Monday, Could 9th. The company documented ($.19) EPS for the quarter, beating the consensus estimate of ($.24) by $.05. The company had earnings of $874.38 million for the quarter, in contrast to analyst estimates of $815.42 million. Clover Overall health Investments experienced a destructive web margin of 28.64% and a unfavorable return on equity of 112.18%. On average, equities investigate analysts predict that Clover Overall health Investments, Corp. will submit -1.04 earnings for every share for the existing fiscal yr.

Clover Overall health Investments Company Profile

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Clover Health and fitness Investments, Corp. operates as a medicare benefit insurance company in the United States. The firm as a result of its Clover Assistant, a application system that supplies preferred company corporation and health and fitness routine maintenance group wellness programs for medicare-eligible buyers. It also focuses on non-insurance coverage firms.

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