Clover Health Investments (NASDAQ:CLOV) Stock Rating Lowered by Bank of America

Bank of America downgraded shares of Clover Health Investments (NASDAQ:CLOV) from a neutral rating to an underperform rating in a research note published on Thursday morning, Analyst Price Targets reports. They currently have $10.00 price objective on the stock.

A number of other equities research analysts have also recently commented on the stock. Credit Suisse Group lowered their price target on shares of Clover Health Investments from $10.00 to $9.00 and set a neutral rating on the stock in a report on Wednesday, May 19th. Zacks Investment Research lowered Clover Health Investments from a hold rating to a sell rating in a research note on Wednesday, May 19th. Citigroup cut their price target on Clover Health Investments from $13.00 to $10.00 and set a buy rating for the company in a research note on Tuesday, May 18th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered their price objective on Clover Health Investments from $13.00 to $10.00 and set a buy rating on the stock in a research note on Tuesday, May 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Clover Health Investments has a consensus rating of Hold and an average target price of $10.80.

Shares of Clover Health Investments stock opened at $14.34 on Thursday. Clover Health Investments has a 1 year low of $6.31 and a 1 year high of $28.85. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $8.83.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Monday, May 17th. The company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.01). The company had revenue of $200.33 million for the quarter. Equities analysts expect that Clover Health Investments will post -0.5 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in CLOV. IFP Advisors Inc bought a new position in Clover Health Investments in the 1st quarter worth about $33,000. Edge Wealth Management LLC purchased a new stake in shares of Clover Health Investments in the first quarter worth about $76,000. GWM Advisors LLC purchased a new stake in shares of Clover Health Investments in the first quarter worth about $76,000. United Asset Strategies Inc. bought a new position in shares of Clover Health Investments in the first quarter valued at approximately $78,000. Finally, FNY Investment Advisers LLC bought a new stake in Clover Health Investments during the 1st quarter worth approximately $83,000. Institutional investors own 38.24% of the company’s stock.

About Clover Health Investments

Clover Health Investments, Corp. operates as a Medicare Advantage insurer in the United States. The company through its software platform provides preferred provider organization and health maintenance organization health plans for Medicare-eligible consumers. Clover Health Investments, Corp. was founded in 2012 and is headquartered in Franklin, Tennessee.

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Analyst Recommendations for Clover Health Investments (NASDAQ:CLOV)

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