Clover Health Investments, Corp. (NASDAQ:CLOV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $3.9250.

Several equities analysts have commented on the company. Zacks Research raised Clover Health Investments from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday. Canaccord Genuity Group reduced their price target on shares of Clover Health Investments from $4.10 to $3.70 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Wall Street Zen lowered shares of Clover Health Investments from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Leerink Partners set a $3.00 target price on shares of Clover Health Investments and gave the stock a “market perform” rating in a research note on Tuesday, October 21st.

Institutional Investors Weigh In On Clover Health Investments

A number of institutional investors and hedge funds have recently bought and sold shares of CLOV. Vanguard Group Inc. grew its position in shares of Clover Health Investments by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 20,580,117 shares of the company’s stock worth $73,883,000 after buying an additional 994,904 shares in the last quarter. Geode Capital Management LLC grew its holdings in Clover Health Investments by 95.7% during the 2nd quarter. Geode Capital Management LLC now owns 9,843,349 shares of the company’s stock worth $27,467,000 after acquiring an additional 4,812,368 shares in the last quarter. Millennium Management LLC increased its position in Clover Health Investments by 365.9% during the 1st quarter. Millennium Management LLC now owns 5,804,006 shares of the company’s stock valued at $20,836,000 after purchasing an additional 4,558,305 shares during the period. Bank of America Corp DE increased its position in Clover Health Investments by 217.5% during the 2nd quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock valued at $11,196,000 after purchasing an additional 2,748,783 shares during the period. Finally, Divisadero Street Capital Management LP bought a new stake in shares of Clover Health Investments in the 3rd quarter valued at about $8,470,000. 19.77% of the stock is owned by institutional investors.

Clover Health Investments Trading Up 5.6%

Clover Health Investments stock opened at $2.28 on Friday. Clover Health Investments has a 12-month low of $2.12 and a 12-month high of $4.87. The firm has a 50-day moving average price of $2.92 and a 200-day moving average price of $2.94. The firm has a market capitalization of $1.18 billion, a PE ratio of -20.73 and a beta of 2.07.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $467.18 million. As a group, sell-side analysts predict that Clover Health Investments will post -0.12 earnings per share for the current fiscal year.

About Clover Health Investments

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.