Canaccord Genuity Group Forecasts Strong Price Appreciation for Clover Health Investments (NASDAQ:CLOV) Stock

Clover Health Investments (NASDAQ:CLOV) had its price target raised by Canaccord Genuity Group from $4.20 to $4.50 in a research report sent to investors on Monday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Separately, Craig Hallum started coverage on Clover Health Investments in a research note on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price objective for the company.

Clover Health Investments Stock Performance

Shares of CLOV opened at $3.83 on Monday. The stock has a 50-day simple moving average of $4.07 and a 200-day simple moving average of $3.61. The stock has a market capitalization of $1.92 billion, a PE ratio of -19.15 and a beta of 2.00. Clover Health Investments has a 1 year low of $0.61 and a 1 year high of $4.87.

Institutional Investors Weigh In On Clover Health Investments

Hedge funds and other institutional investors have recently made changes to their positions in the business. Concurrent Investment Advisors LLC acquired a new stake in shares of Clover Health Investments during the 3rd quarter worth about $28,000. Sigma Planning Corp acquired a new position in Clover Health Investments during the third quarter worth approximately $29,000. Parallax Volatility Advisers L.P. acquired a new position in Clover Health Investments during the third quarter worth approximately $38,000. Forum Financial Management LP increased its position in Clover Health Investments by 33.8% during the third quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock worth $45,000 after buying an additional 4,061 shares during the period. Finally, Triumph Capital Management acquired a new position in Clover Health Investments during the fourth quarter worth approximately $45,000. Institutional investors and hedge funds 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.