Clover Health Investments, Corp. (NASDAQ:CLOV) Given Average Recommendation of “Hold” by Brokerages

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have been assigned an average recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $3.0667.

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Leerink Partners dropped their price objective on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research note on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $3.70 target price on shares of Clover Health Investments in a research note on Tuesday, January 20th. Finally, Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th.

Clover Health Investments Price Performance

NASDAQ CLOV opened at $2.00 on Monday. The stock’s 50 day simple moving average is $2.29 and its 200-day simple moving average is $2.61. The company has a market cap of $1.03 billion, a PE ratio of -11.76 and a beta of 2.15. Clover Health Investments has a 1-year low of $1.93 and a 1-year high of $3.92.

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

Insider Transactions at Clover Health Investments

In other Clover Health Investments news, CEO Brady Patrick Priest sold 175,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $2.17, for a total value of $379,750.00. Following the completion of the sale, the chief executive officer directly owned 1,998,584 shares in the company, valued at $4,336,927.28. This represents a 8.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 24.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clover Health Investments

A number of hedge funds have recently modified their holdings of CLOV. Abel Hall LLC purchased a new position in Clover Health Investments during the fourth quarter worth about $27,000. Clarity Wealth Advisors LLC acquired a new stake in shares of Clover Health Investments during the 2nd quarter worth approximately $28,000. Allworth Financial LP increased its holdings in shares of Clover Health Investments by 218.9% during the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock worth $29,000 after buying an additional 6,527 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Clover Health Investments during the 4th quarter valued at approximately $29,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Clover Health Investments in the fourth quarter valued at approximately $29,000. Hedge funds and other 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.