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

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have received an average rating of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat reports. One investment 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 12 month target price among brokers that have updated their coverage on the stock in the last year is $3.2333.

CLOV has been the subject of several research reports. Zacks Research cut shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Wall Street Zen upgraded shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. Canaccord Genuity Group cut their price objective on Clover Health Investments from $4.10 to $3.70 and set a “buy” rating for the company in a report on Thursday, November 6th. Finally, Leerink Partners set a $3.00 price objective on Clover Health Investments and gave the company a “market perform” rating in a research report on Tuesday, October 21st.

Clover Health Investments Stock Down 3.1%

Shares of Clover Health Investments stock opened at $2.54 on Friday. Clover Health Investments has a 12 month low of $2.12 and a 12 month high of $4.87. The stock has a market cap of $1.31 billion, a PE ratio of -23.09 and a beta of 2.12. The business has a fifty day simple moving average of $2.52 and a 200-day simple moving average of $2.77.

Clover Health Investments (NASDAQ:CLOV) last announced 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 business had revenue of $496.65 million during the quarter, compared to analysts’ expectations of $467.18 million. Analysts expect that Clover Health Investments will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Clover Health Investments

A number of hedge funds have recently added to or reduced their stakes in CLOV. Allworth Financial LP increased its stake in shares of Clover Health Investments by 218.9% during the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock worth $29,000 after purchasing an additional 6,527 shares during the last quarter. Clarity Wealth Advisors LLC acquired a new stake in shares of Clover Health Investments in the second quarter worth about $28,000. Fifth Third Bancorp acquired a new stake in shares of Clover Health Investments in the second quarter worth about $28,000. Integrated Wealth Concepts LLC bought a new stake in shares of Clover Health Investments during the 1st quarter worth about $37,000. Finally, Alteri Wealth LLC acquired a new position in shares of Clover Health Investments during the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

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.