Clover Health Investments (NASDAQ:CLOV) Reaches New 1-Year Low – Here’s Why

Clover Health Investments, Corp. (NASDAQ:CLOV) shares reached a new 52-week low on Monday . The stock traded as low as $2.00 and last traded at $2.0150, with a volume of 590905 shares changing hands. The stock had previously closed at $2.02.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CLOV shares. Canaccord Genuity Group restated a “buy” rating and issued a $3.70 target price on shares of Clover Health Investments in a research note on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. Finally, Zacks Research lowered Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Clover Health Investments presently has a consensus rating of “Hold” and an average target price of $3.23.

Clover Health Investments Trading Down 2.2%

The business has a fifty day moving average of $2.39 and a 200-day moving average of $2.65. The company has a market cap of $1.02 billion, a PE ratio of -17.95 and a beta of 2.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Soviero Asset Management LP raised its stake in Clover Health Investments by 260.0% in the second quarter. Soviero Asset Management LP now owns 900,000 shares of the company’s stock worth $2,511,000 after buying an additional 650,000 shares in the last quarter. Rhumbline Advisers increased its position in shares of Clover Health Investments by 8,149.2% during the second quarter. Rhumbline Advisers now owns 584,459 shares of the company’s stock worth $1,631,000 after purchasing an additional 577,374 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 4,812,368 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Clover Health Investments during the 2nd quarter valued at $858,000. Finally, Jupiter Asset Management Ltd. boosted its position in shares of Clover Health Investments by 575.9% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 939,590 shares of the company’s stock worth $2,621,000 after purchasing an additional 800,581 shares in the last quarter. 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.