Clover Health Investments (NASDAQ:CLOV) Reaches New 12-Month Low – Should You Sell?

Clover Health Investments, Corp. (NASDAQ:CLOV) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.92 and last traded at $1.9250, with a volume of 4887658 shares. The stock had previously closed at $1.97.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Zacks Research downgraded shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research report on Monday, December 29th. Leerink Partners dropped their price objective on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a research note on Thursday, March 5th. Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $3.70 price objective on shares of Clover Health Investments in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Clover Health Investments has a consensus rating of “Hold” and an average target price of $3.07.

Clover Health Investments Price Performance

The business has a 50 day moving average of $2.24 and a 200 day moving average of $2.59. The firm has a market capitalization of $994.61 million, a price-to-earnings ratio of -11.32 and a beta of 2.15.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $487.71 million for the quarter, compared to analyst estimates of $467.06 million. On average, sell-side analysts forecast that Clover Health Investments, Corp. will post -0.12 EPS for the current fiscal year.

Insider Activity 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 dated Wednesday, March 4th. The shares were sold at an average price of $2.17, for a total transaction of $379,750.00. Following the transaction, the chief executive officer directly owned 1,998,584 shares in the company, valued at approximately $4,336,927.28. This represents a 8.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 24.07% of the company’s stock.

Institutional Trading of Clover Health Investments

Institutional investors and hedge funds have recently made changes to their positions in the business. Abel Hall LLC acquired a new stake in shares of Clover Health Investments during the fourth quarter worth $27,000. Allworth Financial LP boosted its holdings in Clover Health Investments by 218.9% during the third 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 bought a new position in Clover Health Investments during the fourth quarter worth about $29,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Clover Health Investments during the 4th quarter worth about $29,000. Finally, Alteri Wealth LLC acquired a new position in shares of Clover Health Investments during the 2nd quarter worth about $30,000. 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.