Clover Health Investments, Corp. (NASDAQ:CLOV) Receives $2.90 Consensus PT from Analysts

Clover Health Investments, Corp. (NASDAQ:CLOV) has earned a consensus rating of “Hold” from the five analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $2.90.

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

Clover Health Investments Trading Down 2.3%

Clover Health Investments stock opened at $3.39 on Friday. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -28.25 and a beta of 2.44. The company’s 50-day moving average price is $2.27 and its two-hundred day moving average price is $2.39. Clover Health Investments has a 52 week low of $1.58 and a 52 week high of $3.92.

Clover Health Investments (NASDAQ:CLOV) last released its earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $749.19 million for the quarter, compared to analyst estimates of $714.89 million. Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. Research analysts expect that Clover Health Investments will post -0.02 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brady Patrick Priest sold 175,000 shares of Clover Health Investments stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $2.17, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 23.51% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clover Health Investments

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System boosted its holdings in shares of Clover Health Investments by 24.1% in the first quarter. California State Teachers Retirement System now owns 497,006 shares of the company’s stock worth $875,000 after buying an additional 96,458 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Clover Health Investments during the first quarter worth approximately $309,000. Sei Investments Co. lifted its stake in Clover Health Investments by 109.7% in the first quarter. Sei Investments Co. now owns 88,701 shares of the company’s stock valued at $156,000 after acquiring an additional 46,404 shares during the last quarter. State of Wyoming lifted its stake in Clover Health Investments by 21.3% in the first quarter. State of Wyoming now owns 93,213 shares of the company’s stock valued at $164,000 after acquiring an additional 16,352 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in Clover Health Investments in the first quarter valued at approximately $66,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

About Clover Health Investments

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.