Clover Health Investments Corporation (Stock)Nasdaq: Clovy – Get rank) received a “Hold” consensus from seven research firms covering the company; Market beat Reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have reported on the stock in the last year is $3.01.
Several analysts recently weighed in on the company. Canaccord Genuity Group cut their price target on Clover Health Investments from $7.00 to $4.00 in a research note on Tuesday, November 8th. Cowen cut their target price on Clover Health Investments to $1.75 in a research report on Wednesday, November 16th. SVB Leerink reduced their price target on Clover Health Investments from $3.00 to $1.50 and set a “market perform” rating for the company in a research report on Tuesday, November 8th. Finally, Citigroup reduced their price objective on shares of Clover Health Investments from $3.50 to $1.80 and set a “neutral” rating on the stock in a report on Wednesday, November 16th.
Price performance of Clover Health investments
NASDAQ CLOV It opened at $1.21 on Tuesday. The company has a market capitalization of $578.31 million, a PE ratio of -1.23 and a beta of 1.92. Clover Health Investments has a 12-month low of $0.86 and a 12-month high of $3.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.29, and a quick ratio of 1.29. The company’s 50-day Simple Moving Average is $1.13, and its 200-day Simple Moving Average is $1.83.
Clover Health Investments (Nasdaq: Clovy – Get rank) last issued its quarterly earnings results on Monday, November 7th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.15. Clover Health Investments had a return of 98.35% and a negative return of 14.69%. The company had revenue of $856.82 million for the quarter, compared to analyst estimates of $829.10 million. As a group, equities research analysts predict that Clover Health Investments will post -0.88 EPS for the current fiscal year.
Hedge funds weigh in on Clover Health Investments.
Hedge funds and other institutional investors have recently made changes to their position in the company. Vanguard Group Inc. raised its holdings in Clover Health Investments by 0.8% in the 1st quarter. Vanguard Group now owns 26,087,528 shares of the company’s stock valued at $92,611,000 after acquiring an additional 200,177 shares during the period. BlackRock Inc. boosted its position in Clover Health Investments by 5.9% during the 3rd quarter. BlackRock Inc. now owns 25,887,235 shares of the company’s stock worth $44,009,000 after acquiring an additional 1,452,210 shares in the last quarter. State Street Corp raised its position in Clover Health Investments by 2.6% in the third quarter. State Street Corp. now owns 8,155,795 shares of the company’s stock valued at $13,865,000 after purchasing an additional 205,043 shares in the last quarter. Renaissance Technologies LLC boosted its position in Clover Health Investments by 144.3% in the third quarter. Renaissance Technologies LLC now owns 3,980,700 shares of the company’s stock valued at $6,767,000 after buying an additional 2,351,160 shares in the last quarter. Finally, Northern Trust Corp raised its position in Clover Health Investments by 342.1% in the second quarter. Northern Trust Corp now owns 3,602,438 shares of the company’s stock valued at $7,709,000 after buying an additional 2,787,563 shares in the last quarter. 29.79% of the shares are owned by institutional investors.
Clover Health Investment Company Profile
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Clover Health Investments, Inc. operates as a Medicare Advantage insurer in the United States. The company through Clover Assistant, a software platform that offers preferred provider organization and health care organization health plans to consumers who qualify for drug coverage. It also focuses on non-insurance businesses.
Further reading
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