Clover Health Investments (NASDAQ:CLOV) Raised to Hold at Wall Street Zen

by · The Markets Daily

Clover Health Investments (NASDAQ:CLOV – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other research analysts have also issued research reports about the stock. Leerink Partners set a $3.00 price target on shares of Clover Health Investments and gave the stock a “market perform” rating in a research report on Tuesday, October 21st. Canaccord Genuity Group cut their price objective on Clover Health Investments from $4.10 to $3.70 and set a “buy” rating for the company in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 8th. Finally, Zacks Research lowered Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Clover Health Investments presently has an average rating of “Hold” and an average price target of $3.93.

View Our Latest Stock Analysis on CLOV

Clover Health Investments Trading Down 1.8%

Shares of Clover Health Investments stock opened at $2.70 on Friday. Clover Health Investments has a 52 week low of $2.12 and a 52 week high of $4.87. The stock has a market cap of $1.40 billion, a PE ratio of -24.55 and a beta of 2.24. The company’s 50-day moving average price is $2.78 and its two-hundred day moving average price is $2.84.

Clover Health Investments (NASDAQ:CLOV – Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.07). Clover Health Investments had a negative return on equity of 16.79% and a negative net margin of 3.29%.The business had revenue of $496.65 million during the quarter, compared to analyst estimates of $467.18 million. On average, equities analysts predict that Clover Health Investments will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Clover Health Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new stake in shares of Clover Health Investments in the second quarter valued at $28,000. Clarity Wealth Advisors LLC purchased a new position in shares of Clover Health Investments during the second quarter valued at $28,000. Allworth Financial LP raised its position in Clover Health Investments by 218.9% during the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after buying an additional 6,527 shares during the period. Alteri Wealth LLC purchased a new stake in Clover Health Investments in the 2nd quarter worth about $30,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Clover Health Investments in the 2nd quarter worth about $31,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

About Clover Health Investments

(Get Free Report)

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.

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