Clover Health Investments, Corp. (NASDAQ:CLOV) Stock Has Consensus Price Target of $4.75 According to Brokerages

Clover Health Investments, Corp. (NASDAQ:CLOV) has been given an average recommendation of “Hold” by the six research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $4.75.

Several equities analysts have commented on CLOV shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research report on Monday, September 21st. Wall Street Zen lowered Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. UBS Group lifted their target price on Clover Health Investments from $4.75 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Canaccord Genuity Group lifted their target price on Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Clover Health Investments in a research note on Thursday, September 10th. They set a “buy” rating and a $6.00 target price for the company.

Clover Health Investments Stock Performance

CLOV opened at $4.44 on Tuesday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -88.78 and a beta of 2.45. The stock’s 50 day moving average price is $4.45 and its 200-day moving average price is $4.03. Clover Health Investments has a one year low of $1.58 and a one year high of $5.59.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. 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 $743.17 million for the quarter, compared to the consensus estimate of $728.27 million. As a group, analysts predict that Clover Health Investments will post 0.06 earnings per share for the current fiscal year.

Insider Activity at Clover Health Investments

In other Clover Health Investments news, VP Joseph Frank Oldakowski sold 20,000 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $5.16, for a total value of $103,200.00. Following the completion of the sale, the vice president directly owned 279,067 shares of the company’s stock, valued at $1,439,985.72. The trade was a 6.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Toy sold 318,806 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $4.19, for a total transaction of $1,335,797.14. Following the completion of the transaction, the chief executive officer owned 9,140,510 shares in the company, valued at $38,298,736.90. This represents a 3.37% 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 quarter, insiders sold 837,096 shares of company stock worth $3,780,918. 23.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clover Health Investments

Institutional investors have recently modified their holdings of the stock. Ballew Advisors Inc purchased a new position in shares of Clover Health Investments during the third quarter valued at $44,000. Tidal Investments LLC bought a new position in Clover Health Investments in the second quarter worth about $2,156,000. WINTON GROUP Ltd bought a new position in shares of Clover Health Investments during the 2nd quarter worth approximately $913,000. Nykredit A S purchased a new stake in shares of Clover Health Investments during the 2nd quarter valued at $45,000. Finally, AXQ Capital LP boosted its holdings in Clover Health Investments by 602.6% in the second quarter. AXQ Capital LP now owns 146,569 shares of the company’s stock worth $768,000 after acquiring an additional 125,708 shares in the last quarter. 19.77% of the stock is owned by hedge funds and other institutional investors.

About Clover Health Investments

Clover Health Investments, Corp. is a healthcare technology and Medicare Advantage company headquartered in Franklin, Tennessee. Through its insurance subsidiary, Clover Health Insurance Company, the company offers Medicare Advantage plans to eligible beneficiaries in select counties across the United States. Its plans are designed to provide coverage for hospital, medical and supplemental healthcare services through a managed-care structure.

Clover’s technology platform, Clover Assistant, is intended to support physicians by organizing patient information, identifying potential care needs and helping providers coordinate treatment.