Clover Health Investments (NASDAQ:CLOV) Stock Rating Lowered by Wall Street Zen

Clover Health Investments (NASDAQ:CLOV) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

CLOV has been the topic of a number of other research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $3.70 price objective on shares of Clover Health Investments in a report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. Zacks Research lowered Clover Health Investments from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Finally, Leerink Partners set a $3.00 price objective on Clover Health Investments and gave the stock a “market perform” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.23.

Clover Health Investments Price Performance

Shares of NASDAQ:CLOV opened at $2.13 on Friday. The company’s fifty day moving average price is $2.50 and its 200 day moving average price is $2.70. Clover Health Investments has a 12 month low of $2.03 and a 12 month high of $4.80. The firm has a market capitalization of $1.10 billion, a P/E ratio of -19.36 and a beta of 2.09.

Institutional Trading of Clover Health Investments

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Clover Health Investments by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock valued at $55,192,000 after acquiring an additional 425,904 shares during the last quarter. Geode Capital Management LLC increased its stake in Clover Health Investments by 95.7% during the second 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 during the last quarter. Bank of America Corp DE raised its holdings in shares of Clover Health Investments by 217.5% in the 2nd quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock worth $11,196,000 after purchasing an additional 2,748,783 shares during the period. Divisadero Street Capital Management LP acquired a new position in shares of Clover Health Investments in the 3rd quarter valued at about $8,470,000. Finally, UBS Group AG grew its holdings in shares of Clover Health Investments by 155.5% during the 3rd quarter. UBS Group AG now owns 2,282,113 shares of the company’s stock worth $6,983,000 after purchasing an additional 1,388,761 shares during the period. 19.77% of the stock is owned by hedge funds and other institutional investors.

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.