Clover Health Investments, Corp. (NASDAQ:CLOV – Get Rating) received a consensus recommendation of “Hold” from the six research firms that currently cover the company, MarketBeat.com reports. One investment analyst gave the stock a sell rating, two gave the company a hold rating and two gave the company a buy rating. The year-over-year average target price among brokers who updated their coverage on the stock in the last year is $4.17.
A number of research firms have recently weighed in on CLOV. Credit Suisse Group lowered its price target on Clover Health Investments from $3.50 to $3.00 and set an “underperform” rating on the stock in a Tuesday, August 9 report. Citigroup raised its price target on Clover Health Investments to $3.50 in a Monday, August 15 research report.
Clover Health Investments Stock up 2.1%
NASDAQ:CLOV shares opened at $1.46 on Friday. Clover Health Investments has a 52-week low of $1.37 and a 52-week high of $8.17. The company has a debt ratio of 0.05, a quick ratio of 1.16 and a current ratio of 1.16. The company’s 50-day simple moving average is $2.23 and its two-hundred-day simple moving average is $2.51. The company has a market capitalization of $697.35 million, a P/E ratio of -1.62 and a beta of 2.11.
Clover Health Investments (NASDAQ:CLOV – Get Rating) last reported results on Monday, August 8. The company reported ($0.22) earnings per share for the quarter, beating analyst consensus estimates of ($0.23) by $0.01. Clover Health Investments posted a negative return on equity of 88.55% and a negative net margin of 15.55%. The company posted revenue of $846.70 million for the quarter, versus analyst estimates of $852.00 million. As a group, research analysts expect Clover Health Investments to post -1.05 EPS for the current fiscal year.
Clover Health Investments Institutional Trading
A number of large investors have recently bought and sold shares of the company. State Street Corp increased its position in Clover Health Investments shares by 311.4% in the second quarter. State Street Corp now owns 7,950,752 shares of the company valued at $17,015,000 after purchasing an additional 6,018,018 shares in the last quarter. Northern Trust Corp increased its position in Clover Health Investments shares by 342.1% in the second quarter. Northern Trust Corp now owns 3,602,438 shares of the company valued at $7,709,000 after buying an additional 2,787,563 shares last quarter. Jupiter Asset Management Ltd. bought a new stock position in Clover Health Investments in the first quarter worth $3,416,000. Renaissance Technologies LLC bought a new stock position in Clover Health Investments in the first quarter worth $3,390,000. Finally, the Healthcare of Ontario Pension Plan Trust Fund bought a new stock position in Clover Health Investments in the second quarter worth $1,763,000. 25.75% of the shares are held by hedge funds and other institutional investors.
Clover Health Investments Company Profile
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Clover Health Investments, Corp. operates as the insurer of Medicare Advantage in the United States. The Company through its Clover Assistant, a software platform that provides preferred provider organization and health maintenance organization health plans for Medicare-eligible consumers. It also focuses on non-insurance related activities.
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