Clover Health Investments (NASDAQ:CLOV) Stock Price Down 8.8% – Should You Sell?

Clover Health Investments, Corp. (NASDAQ:CLOV)’s stock price dropped 8.8% during trading on Wednesday . The stock traded as low as $1.60 and last traded at $1.6050. Approximately 2,857,551 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 5,857,567 shares. The stock had previously closed at $1.76.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Canaccord Genuity Group decreased their price target on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a report on Friday, March 20th. Leerink Partners cut their target price on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a research report on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday. Finally, Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Clover Health Investments presently has an average rating of “Hold” and a consensus price target of $2.90.

Clover Health Investments Stock Down 3.1%

The stock has a market capitalization of $894.56 million, a PE ratio of -10.05 and a beta of 2.15. The business’s 50-day moving average is $2.07 and its two-hundred day moving average is $2.51.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $487.71 million for the quarter, compared to analysts’ expectations of $467.06 million. As a group, analysts anticipate that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

Insider Transactions at Clover Health Investments

In related news, CEO Brady Patrick Priest sold 175,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $2.17, for a total transaction of $379,750.00. Following the transaction, the chief executive officer owned 1,998,584 shares in the company, valued at $4,336,927.28. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 24.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clover Health Investments

Several large investors have recently modified their holdings of CLOV. Allworth Financial LP increased its holdings in shares of Clover Health Investments by 218.9% in the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after acquiring an additional 6,527 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Clover Health Investments during the 1st quarter worth $37,000. Envestnet Asset Management Inc. purchased a new position in Clover Health Investments during the 2nd quarter worth $31,000. Lido Advisors LLC purchased a new position in Clover Health Investments during the 2nd quarter worth $32,000. Finally, Abel Hall LLC acquired a new position in Clover Health Investments in the fourth quarter valued at $27,000. 19.77% of the stock is owned by institutional investors and hedge funds.

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.