Clover Health Investments (NASDAQ:CLOV) Cut to “Hold” at Zacks Research

Clover Health Investments (NASDAQ:CLOV) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts also recently weighed in on the company. Leerink Partners set a $3.00 target price on Clover Health Investments and gave the stock a “market perform” rating in a report on Tuesday, October 21st. Wall Street Zen cut shares of Clover Health Investments from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Canaccord Genuity Group dropped their target price on shares of Clover Health Investments from $4.10 to $3.70 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research report on Wednesday, November 19th. Finally, UBS Group decreased their price objective on shares of Clover Health Investments from $4.50 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.93.

Clover Health Investments Stock Performance

NASDAQ:CLOV opened at $2.42 on Monday. The business has a 50 day moving average price of $2.89 and a 200-day moving average price of $2.91. Clover Health Investments has a fifty-two week low of $2.12 and a fifty-two week high of $4.87. The firm has a market cap of $1.25 billion, a PE ratio of -22.00 and a beta of 2.07.

Clover Health Investments (NASDAQ:CLOV) last announced its earnings results on Tuesday, November 4th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.07). Clover Health Investments had a negative net margin of 3.29% and a negative return on equity of 16.79%. The business had revenue of $496.65 million for the quarter, compared to the consensus estimate of $467.18 million. Research analysts predict that Clover Health Investments will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Clover Health Investments

Several hedge funds and other institutional investors have recently modified their holdings of CLOV. Fifth Third Bancorp bought a new position in Clover Health Investments in the 2nd quarter worth $28,000. Clarity Wealth Advisors LLC purchased a new stake in Clover Health Investments in the second quarter worth about $28,000. Alteri Wealth LLC purchased a new stake in Clover Health Investments in the second quarter worth about $30,000. Envestnet Asset Management Inc. bought a new position in shares of Clover Health Investments in the second quarter worth about $31,000. Finally, Lido Advisors LLC purchased a new position in shares of Clover Health Investments during the 2nd quarter valued at about $32,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Clover Health Investments Company Profile

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.