Clover Health Investments, Corp. (NASDAQ:CLOV) Receives Average Rating of “Hold” from Brokerages

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have earned an average rating of “Hold” from the six brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $4.75.

Several equities research analysts recently issued reports on CLOV shares. Wall Street Zen lowered shares of Clover Health Investments from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Clover Health Investments in a report on Thursday, September 10th. They issued a “buy” rating and a $6.00 target price for the company. Canaccord Genuity Group upped their price objective on Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, UBS Group increased their price objective on shares of Clover Health Investments from $4.75 to $5.00 and gave the company a “neutral” rating in a report on Thursday, August 6th.

Clover Health Investments Stock Down 0.4%

Shares of NASDAQ:CLOV opened at $4.54 on Friday. The firm’s 50 day moving average price is $4.42 and its 200-day moving average price is $3.62. Clover Health Investments has a twelve month low of $1.58 and a twelve month high of $5.59. The stock has a market capitalization of $2.41 billion, a PE ratio of -90.78 and a beta of 2.47.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. Clover Health Investments had a negative net margin of 0.74% and a negative return on equity of 4.20%. The business had revenue of $743.17 million for the quarter, compared to analysts’ expectations of $728.27 million. Analysts expect that Clover Health Investments will post 0.06 earnings per share for the current fiscal year.

Insider Activity at Clover Health Investments

In other Clover Health Investments news, CEO Conrad Wai sold 300,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $4.72, for a total value of $1,416,000.00. Following the sale, the chief executive officer owned 1,170,056 shares in the company, valued at $5,522,664.32. The trade was a 20.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen Soares sold 6,846 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $4.78, for a total value of $32,723.88. Following the completion of the sale, the insider owned 1,607,371 shares in the company, valued at $7,683,233.38. This represents a 0.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 731,290 shares of company stock worth $3,642,586 in the last quarter. 23.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clover Health Investments

Large investors have recently bought and sold shares of the business. RFG Advisory LLC purchased a new stake in Clover Health Investments during the first quarter valued at approximately $35,000. Ketron Financial purchased a new position in shares of Clover Health Investments in the 4th quarter worth approximately $39,000. Public Employees Retirement System of Ohio purchased a new position in Clover Health Investments during the second quarter worth $42,000. Kestra Private Wealth Services LLC boosted its stake in Clover Health Investments by 44.1% during the first quarter. Kestra Private Wealth Services LLC now owns 24,525 shares of the company’s stock worth $43,000 after buying an additional 7,500 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Clover Health Investments during the first quarter valued at $45,000. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Company Profile

Clover Health Investments, Inc is a healthcare technology and insurance company focused on providing Medicare Advantage plans to eligible Medicare beneficiaries. Its insurance business offers medical coverage and related healthcare benefits through plans available in select counties across the United States.

The company also develops and uses Clover Assistant, a technology platform designed to support physicians with patient information, clinical insights, care recommendations and tools intended to help improve healthcare outcomes.