Clover Health Investments (NASDAQ:CLOV) Shares Up 8.3% – Should You Buy?

Clover Health Investments, Corp. (NASDAQ:CLOV) shares were up 8.3% during mid-day trading on Tuesday . The stock traded as high as $2.38 and last traded at $2.4150. Approximately 1,307,014 shares traded hands during trading, a decline of 77% from the average daily volume of 5,730,949 shares. The stock had previously closed at $2.23.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CLOV shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday, March 27th. Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. Leerink Partners reduced their target price on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a report on Thursday, March 5th. Finally, Canaccord Genuity Group reduced their price target on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating on the stock in a research report on Friday, March 20th. One research 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 has a consensus rating of “Hold” and a consensus target price of $2.90.

Clover Health Investments Trading Up 6.5%

The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -13.97 and a beta of 2.24. The stock’s fifty day moving average price is $1.97 and its two-hundred day moving average price is $2.40.

Clover Health Investments (NASDAQ:CLOV) last issued its earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share 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 business had revenue of $487.71 million for the quarter, compared to analyst estimates of $467.06 million. Analysts anticipate that Clover Health Investments, Corp. will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Clover Health Investments news, CEO Brady Patrick Priest sold 175,000 shares of Clover Health Investments 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 of the company’s stock, valued at $4,336,927.28. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 24.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new position in shares of Clover Health Investments during the first quarter worth about $49,000. Integrated Wealth Concepts LLC acquired a new stake in Clover Health Investments in the first quarter valued at $37,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Clover Health Investments by 3.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 855,264 shares of the company’s stock valued at $3,070,000 after purchasing an additional 24,807 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in Clover Health Investments in the second quarter valued at $31,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Clover Health Investments by 41.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 633,700 shares of the company’s stock worth $1,768,000 after purchasing an additional 186,047 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.