Clover Health Investments (NASDAQ:CLOV) Reaches New 1-Year Low – What’s Next?

Clover Health Investments, Corp. (NASDAQ:CLOV)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $1.72 and last traded at $1.7250, with a volume of 218626 shares trading hands. The stock had previously closed at $1.75.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CLOV. Leerink Partners reduced 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, March 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday. Wall Street Zen upgraded shares of Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Finally, Canaccord Genuity Group cut their target price on shares of Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a research report on Friday, March 20th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.90.

Clover Health Investments Trading Up 2.3%

The stock has a fifty day simple moving average of $2.07 and a 200-day simple moving average of $2.51. The stock has a market cap of $923.42 million, a price-to-earnings ratio of -10.35 and a beta of 2.15.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) EPS 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. Sell-side analysts forecast that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brady Patrick Priest sold 175,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $2.17, for a total transaction of $379,750.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 24.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CLOV. Vanguard Group Inc. grew its position in Clover Health Investments by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock worth $55,192,000 after buying an additional 425,904 shares in the last quarter. Geode Capital Management LLC raised its holdings in Clover Health Investments by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 9,791,208 shares of the company’s stock valued at $23,013,000 after acquiring an additional 70,801 shares in the last quarter. State Street Corp lifted its position in shares of Clover Health Investments by 4.1% in the 4th quarter. State Street Corp now owns 9,320,183 shares of the company’s stock worth $21,902,000 after acquiring an additional 368,507 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Clover Health Investments by 9.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,690,904 shares of the company’s stock worth $11,024,000 after purchasing an additional 419,389 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Clover Health Investments by 217.5% during 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 in the last quarter. Institutional investors and hedge funds 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.