Clover Health Investments (NASDAQ:CLOV) Sets New 12-Month High – Still a Buy?

Clover Health Investments, Corp. (NASDAQ:CLOV) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $4.73 and last traded at $4.68, with a volume of 1022951 shares trading hands. The stock had previously closed at $4.68.

Analysts Set New Price Targets

Several equities research analysts recently commented on CLOV shares. UBS Group started coverage on shares of Clover Health Investments in a report on Monday, October 7th. They issued a “neutral” rating and a $4.00 price target for the company. Craig Hallum started coverage on shares of Clover Health Investments in a report on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price target for the company.

Clover Health Investments Trading Down 0.6 %

The company has a market cap of $2.33 billion, a PE ratio of -23.32 and a beta of 1.95. The firm’s fifty day moving average is $3.45 and its 200 day moving average is $3.08.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. The company had revenue of $330.99 million during the quarter, compared to analyst estimates of $347.60 million. During the same quarter in the previous year, the firm earned ($0.09) EPS. As a group, sell-side analysts anticipate that Clover Health Investments, Corp. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Clover Health Investments

A number of large investors have recently modified their holdings of CLOV. Vanguard Personalized Indexing Management LLC boosted its position in shares of Clover Health Investments by 54.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock valued at $42,000 after acquiring an additional 12,104 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Clover Health Investments during the 2nd quarter valued at about $203,000. Marshall Wace LLP acquired a new position in shares of Clover Health Investments during the 2nd quarter valued at about $55,000. Squarepoint Ops LLC boosted its position in shares of Clover Health Investments by 220.7% during the 2nd quarter. Squarepoint Ops LLC now owns 130,352 shares of the company’s stock valued at $160,000 after acquiring an additional 238,329 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Clover Health Investments by 4.6% during the 2nd quarter. AQR Capital Management LLC now owns 729,706 shares of the company’s stock valued at $898,000 after acquiring an additional 32,288 shares during the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Company Profile

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.