Clover Health Investments, Corp. (NASDAQ:CLOV) Stock Has Consensus Price Target of $5.10 According to Analysts

Clover Health Investments, Corp. (NASDAQ:CLOV) has received an average recommendation of “Hold” from the seven brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $5.10.

A number of brokerages recently issued reports on CLOV. Canaccord Genuity Group upped their price objective on shares of Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Wall Street Zen cut Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Monday, September 21st. Zacks Research upgraded shares of Clover Health Investments to a “hold” rating in a research report on Monday, September 14th. Finally, UBS Group increased their price target on shares of Clover Health Investments from $5.00 to $5.50 and gave the stock a “neutral” rating in a research report on Thursday.

Insider Transactions at Clover Health Investments

In other news, CEO Andrew Toy sold 62,176 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $4.68, for a total transaction of $290,983.68. Following the sale, the chief executive officer owned 9,078,334 shares of the company’s stock, valued at approximately $42,486,603.12. This trade represents a 0.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, CEO Conrad Wai sold 23,627 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $4.68, for a total value of $110,574.36. Following the transaction, the chief executive officer directly owned 1,042,072 shares in the company, valued at $4,876,896.96. This trade represents a 2.22% decrease in their ownership of the stock. 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 ninety days, insiders sold 856,371 shares of company stock valued at $3,870,740. Corporate insiders own 23.51% of the company’s stock.

Institutional Trading of Clover Health Investments

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new position in shares of Clover Health Investments during the 2nd quarter valued at about $2,156,000. Bank of New York Mellon Corp purchased a new position in shares of Clover Health Investments in the 2nd quarter valued at approximately $6,346,000. WINTON GROUP Ltd acquired a new position in shares of Clover Health Investments during the 2nd quarter worth about $913,000. Lazard Asset Management LLC purchased a new position in Clover Health Investments during the first quarter worth about $309,000. Finally, AXQ Capital LP lifted its holdings in Clover Health Investments by 602.6% during the 2nd quarter. AXQ Capital LP now owns 146,569 shares of the company’s stock worth $768,000 after buying an additional 125,708 shares during the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Price Performance

CLOV stock opened at $4.82 on Friday. The company has a 50-day moving average of $4.54 and a two-hundred day moving average of $3.59. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 482.48 and a beta of 2.52. Clover Health Investments has a 52-week low of $1.58 and a 52-week high of $5.59.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Clover Health Investments had a negative return on equity of 4.20% and a negative net margin of 0.74%. The firm had revenue of $759.30 million during the quarter, compared to analysts’ expectations of $740.07 million. Equities analysts expect that Clover Health Investments will post 0.06 EPS for the current fiscal year.

Clover Health Investments Company Profile

Clover Health Investments, Corp. is a health insurance technology company focused on providing Medicare Advantage plans to eligible seniors in the United States. Its plans combine hospital, medical and prescription drug coverage with additional benefits that may vary by plan and location.

The company uses its Clover Assistant technology platform to provide physicians with data-driven insights intended to support clinical decision-making and care coordination. The platform aggregates member health information and helps participating providers identify care opportunities, manage chronic conditions and engage with patients.

Clover Health was founded in 2012 and became a publicly traded company in 2021 through a merger with a special purpose acquisition company.