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

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

A number of analysts recently issued reports 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 report on Tuesday, October 21st. Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Monday, December 29th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $3.70 target price on shares of Clover Health Investments in a report on Tuesday, January 20th. Finally, Zacks Research cut shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th.

Hedge Funds Weigh In On Clover Health Investments

Several institutional investors have recently added to or reduced their stakes in CLOV. Forum Financial Management LP boosted its position in shares of Clover Health Investments by 8.7% during the 3rd quarter. Forum Financial Management LP now owns 37,237 shares of the company’s stock worth $114,000 after purchasing an additional 2,990 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Clover Health Investments by 21.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company’s stock valued at $69,000 after purchasing an additional 4,426 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Clover Health Investments by 1.2% in the third quarter. Alliancebernstein L.P. now owns 415,985 shares of the company’s stock valued at $1,273,000 after purchasing an additional 5,085 shares during the period. Swiss Life Asset Management Ltd lifted its stake in shares of Clover Health Investments by 53.5% in the third quarter. Swiss Life Asset Management Ltd now owns 17,002 shares of the company’s stock valued at $52,000 after purchasing an additional 5,926 shares during the period. Finally, Allworth Financial LP boosted its holdings in 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 buying an additional 6,527 shares in the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Price Performance

Shares of NASDAQ:CLOV opened at $2.11 on Thursday. Clover Health Investments has a 12 month low of $2.05 and a 12 month high of $4.80. The firm has a market capitalization of $1.09 billion, a P/E ratio of -19.18 and a beta of 2.09. The company’s fifty day moving average price is $2.52 and its 200 day moving average price is $2.72.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.07). Clover Health Investments had a negative return on equity of 16.79% and a negative net margin of 3.29%.The firm had revenue of $496.65 million for the quarter, compared to analysts’ expectations of $467.18 million. On average, sell-side analysts anticipate that Clover Health Investments will post -0.12 EPS for the current year.

Clover Health Investments Company Profile

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.