Shares of Clover Health Investments, Corp. (NASDAQ:CLOV – Get Rating) received an average recommendation of “Hold” from the six analysts who currently cover the stock, MarketBeat reports. One investment analyst has assigned the stock a sell rating, two have issued a hold rating and two have assigned the company a buy rating. The year-over-year average target price among brokerages that have updated their coverage on the stock over the past year is $4.17.
A number of equity research analysts have weighed in on CLOV shares recently. Credit Suisse Group lowered its price target on Clover Health Investments shares from $3.50 to $3.00 and set an “underperforming” rating on the stock in a Tuesday 9 research note. august. Citigroup raised its price target on shares of Clover Health Investments to $3.50 in a Monday, August 15 research report.
Hedge funds weigh on Clover Health investments
Major investors have recently increased or reduced their stakes in the company. Viewpoint Capital Management LLC increased its stake in shares of Clover Health Investments by 19.6% during the first quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company valued at $108,000 after purchasing an additional 5,000 shares in the last quarter. Arizona State Retirement System increased its stake in Clover Health Investments by 8.4% in Q2. Arizona State Retirement System now owns 87,193 shares of the company worth $187,000 after purchasing an additional 6,792 shares during the period. JPMorgan Chase & Co. raised its position in Clover Health Investments by 10.2% in the first quarter. JPMorgan Chase & Co. now owns 77,719 shares of the company valued at $276,000 after buying an additional 7,199 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Clover Health Investments by 15.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 57,507 shares of the company valued at $204,000 after purchasing an additional 7,730 shares during the period. Finally, Prelude Capital Management LLC increased its holdings of Clover Health Investments shares by 65.8% in the first quarter. Prelude Capital Management LLC now owns 19,732 shares of the company worth $70,000 after purchasing an additional 7,832 shares in the last quarter. Hedge funds and other institutional investors own 25.75% of the company’s shares.
Performance of Clover Health Investments shares
NASDAQ:CLOV opened at $2.41 on Friday. The stock has a market capitalization of $1.15 billion, a P/E ratio of -2.68 and a beta of 1.99. The company has a quick ratio of 1.16, a current ratio of 1.16 and a leverage ratio of 0.05. The company’s 50-day moving average price is $2.73 and its two-hundred-day moving average price is $2.76. Clover Health Investments has a 12-month low of $1.95 and a 12-month high of $11.13.
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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