Clover Health Investments (NASDAQ:CLOV) Hits New 52-Week Low – Time to Sell?

Clover Health Investments, Corp. (NASDAQ:CLOV) shares hit a new 52-week low during trading on Monday . The company traded as low as $2.00 and last traded at $2.0150, with a volume of 590905 shares changing hands. The stock had previously closed at $2.02.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday, December 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $3.70 target price on shares of Clover Health Investments in a report on Tuesday, January 20th. Finally, Zacks Research cut Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Clover Health Investments has an average rating of “Hold” and a consensus price target of $3.23.

Clover Health Investments Price Performance

The firm has a market capitalization of $1.02 billion, a P/E ratio of -17.95 and a beta of 2.09. The stock has a fifty day simple moving average of $2.39 and a two-hundred day simple moving average of $2.65.

Hedge Funds Weigh In On Clover Health Investments

A number of institutional investors have recently modified their holdings of CLOV. Forum Financial Management LP lifted its holdings in shares of Clover Health Investments by 8.7% in the third quarter. Forum Financial Management LP now owns 37,237 shares of the company’s stock valued at $114,000 after purchasing an additional 2,990 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Clover Health Investments by 1.2% during the third quarter. Alliancebernstein L.P. now owns 415,985 shares of the company’s stock worth $1,273,000 after purchasing an additional 5,085 shares during the last quarter. ProShare Advisors LLC increased its stake in Clover Health Investments by 8.2% in the 4th quarter. ProShare Advisors LLC now owns 74,700 shares of the company’s stock valued at $176,000 after buying an additional 5,660 shares during the last quarter. Swiss Life Asset Management Ltd lifted its position in shares of Clover Health Investments by 53.5% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 17,002 shares of the company’s stock worth $52,000 after buying an additional 5,926 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Clover Health Investments by 218.9% during the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after acquiring an additional 6,527 shares during the last quarter. 19.77% of the stock is owned by institutional investors and hedge funds.

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.