Clover Health Investments (NASDAQ:CLOV) Sets New 12-Month Low – Here’s What Happened

Clover Health Investments, Corp. (NASDAQ:CLOV)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $1.93 and last traded at $1.9450, with a volume of 2592262 shares trading hands. The stock had previously closed at $2.04.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CLOV shares. Weiss Ratings reiterated 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 set a $3.70 target price on shares of Clover Health Investments in a report on Tuesday, January 20th. Wall Street Zen raised shares of Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Finally, Zacks Research lowered Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $3.23.

Clover Health Investments Trading Down 1.5%

The company has a 50 day moving average price of $2.32 and a 200 day moving average price of $2.63. The company has a market capitalization of $1.04 billion, a P/E ratio of -11.82 and a beta of 2.15.

Clover Health Investments (NASDAQ:CLOV) last announced its earnings results on Thursday, February 26th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). Clover Health Investments had a negative return on equity of 24.58% and a negative net margin of 4.45%.The business had revenue of $487.71 million for the quarter, compared to the consensus estimate of $467.06 million. As a group, sell-side analysts forecast that Clover Health Investments, Corp. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Clover Health Investments

A number of institutional investors have recently made changes to their positions in CLOV. Geode Capital Management LLC increased its position in shares of 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 valued at $27,467,000 after purchasing an additional 4,812,368 shares during the last quarter. Divisadero Street Capital Management LP purchased a new stake in Clover Health Investments during the third quarter worth about $8,470,000. Bank of America Corp DE raised its position in Clover Health Investments by 217.5% in the second quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock worth $11,196,000 after acquiring an additional 2,748,783 shares during the period. Dimensional Fund Advisors LP boosted its stake in Clover Health Investments by 69.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,634,325 shares of the company’s stock valued at $8,542,000 after acquiring an additional 1,494,043 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Clover Health Investments during the 2nd quarter valued at approximately $4,149,000. Institutional investors own 19.77% of the company’s stock.

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.