Clover Health Investments, Corp. (NASDAQ:CLOV) Stock Rated “Hold” by Sell-Side Analysts

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have been given a consensus rating of “Hold” by the six ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $4.75.

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Clover Health Investments in a research report on Thursday, September 10th. They set a “buy” rating and a $6.00 price target on the stock. Zacks Research upgraded shares of Clover Health Investments to a “hold” rating in a report on Monday, September 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research report on Monday, September 21st. Wall Street Zen cut Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Finally, Canaccord Genuity Group upped their target price on Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a research report on Tuesday, July 21st.

Clover Health Investments Trading Down 4.3%

CLOV stock opened at $4.48 on Tuesday. The stock has a 50-day moving average price of $4.45 and a two-hundred day moving average price of $3.99. Clover Health Investments has a 12-month low of $1.58 and a 12-month high of $5.59. The company has a market cap of $2.38 billion, a PE ratio of -89.58 and a beta of 2.45.

Clover Health Investments (NASDAQ:CLOV) last issued its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $743.17 million during the quarter, compared to analysts’ expectations of $728.27 million. Clover Health Investments had a negative return on equity of 4.20% and a negative net margin of 0.74%. Equities analysts forecast that Clover Health Investments will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Clover Health Investments news, VP Joseph Frank Oldakowski sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $5.16, for a total value of $103,200.00. Following the completion of the transaction, the vice president owned 279,067 shares in the company, valued at $1,439,985.72. This represents a 6.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karen Soares sold 6,846 shares of Clover Health Investments stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $4.78, for a total transaction of $32,723.88. Following the sale, the insider owned 1,607,371 shares in the company, valued at $7,683,233.38. This represents a 0.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 736,620 shares of company stock valued at $3,310,691. Insiders own 23.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new position in Clover Health Investments in the second quarter valued at about $6,346,000. Tidal Investments LLC bought a new stake in shares of Clover Health Investments in the second quarter worth $2,156,000. WINTON GROUP Ltd acquired a new stake in Clover Health Investments in the second quarter valued at $913,000. California State Teachers Retirement System boosted its stake in Clover Health Investments by 24.1% during the 1st quarter. California State Teachers Retirement System now owns 497,006 shares of the company’s stock valued at $875,000 after acquiring an additional 96,458 shares during the last quarter. Finally, AXQ Capital LP boosted its stake in Clover Health Investments by 602.6% during the 2nd quarter. AXQ Capital LP now owns 146,569 shares of the company’s stock valued at $768,000 after acquiring an additional 125,708 shares during the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

About Clover Health Investments

Clover Health Investments, Corp. is a healthcare technology and Medicare Advantage company headquartered in Franklin, Tennessee. Through its insurance subsidiary, Clover Health Insurance Company, the company offers Medicare Advantage plans to eligible beneficiaries in select counties across the United States. Its plans are designed to provide coverage for hospital, medical and supplemental healthcare services through a managed-care structure.

Clover’s technology platform, Clover Assistant, is intended to support physicians by organizing patient information, identifying potential care needs and helping providers coordinate treatment.