Clover Health Investments (NASDAQ:CLOV) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Clover Health Investments (NASDAQ:CLOV) from a hold rating to a sell rating in a report published on Saturday morning.

Several other research firms have also issued reports on CLOV. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Monday, December 29th. Canaccord Genuity Group reissued a “buy” rating and set a $3.70 target price on shares of Clover Health Investments in a research report on Tuesday, January 20th. Zacks Research lowered Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Finally, Leerink Partners set a $3.00 price target on Clover Health Investments and gave the company a “market perform” rating in a report on Tuesday, October 21st. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Clover Health Investments has a consensus rating of “Hold” and a consensus price target of $3.23.

Clover Health Investments Trading Up 4.4%

CLOV opened at $2.13 on Friday. The business has a 50 day moving average of $2.50 and a 200-day moving average of $2.71. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -19.36 and a beta of 2.09. Clover Health Investments has a 1-year low of $2.03 and a 1-year high of $4.80.

Hedge Funds Weigh In On Clover Health Investments

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Clarity Wealth Advisors LLC bought a new stake in Clover Health Investments in the second quarter valued at $28,000. Allworth Financial LP boosted its stake in shares of Clover Health Investments by 218.9% in the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after purchasing an additional 6,527 shares in the last quarter. Alteri Wealth LLC bought a new stake in shares of Clover Health Investments in the 2nd quarter worth about $30,000. Envestnet Asset Management Inc. bought a new stake in shares of Clover Health Investments in the 2nd quarter worth about $31,000. Finally, Lido Advisors LLC acquired a new stake in shares of Clover Health Investments during the 2nd quarter worth about $32,000. Institutional investors own 19.77% of the company’s stock.

About Clover Health Investments

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.