Leerink Partners Has Lowered Expectations for Clover Health Investments (NASDAQ:CLOV) Stock Price

Clover Health Investments (NASDAQ:CLOV) had its price objective lowered by stock analysts at Leerink Partners from $3.00 to $2.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Leerink Partners’ price target would indicate a potential upside of 21.36% from the stock’s current price.

CLOV has been the topic of several other research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $3.70 target price on shares of Clover Health Investments in a report on Tuesday, January 20th. Zacks Research lowered Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Wall Street Zen raised shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday, December 29th. One 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 data from MarketBeat, Clover Health Investments presently has a consensus rating of “Hold” and an average target price of $3.07.

Clover Health Investments Stock Performance

CLOV stock traded down $0.10 during midday trading on Thursday, reaching $2.06. 2,055,664 shares of the company were exchanged, compared to its average volume of 6,050,334. Clover Health Investments has a 1-year low of $1.93 and a 1-year high of $3.92. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -12.12 and a beta of 2.15. The stock’s 50-day simple moving average is $2.31 and its 200 day simple moving average is $2.62.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly 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 25.17% and a negative net margin of 4.45%.The firm had revenue of $487.71 million for the quarter, compared to analyst estimates of $467.06 million. On average, research analysts anticipate that Clover Health Investments will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Clover Health Investments

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

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.