Clover Health Investments (NASDAQ:CLOV) Sets New 1-Year Low – Here’s What Happened

Clover Health Investments, Corp. (NASDAQ:CLOV) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $2.00 and last traded at $2.0150, with a volume of 590905 shares trading hands. The stock had previously closed at $2.02.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CLOV shares. Wall Street Zen raised shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. Canaccord Genuity Group restated a “buy” rating and set a $3.70 price objective on shares of Clover Health Investments in a report on Tuesday, January 20th. Zacks Research cut shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.23.

Clover Health Investments Price Performance

The stock’s 50-day moving average price is $2.36 and its 200 day moving average price is $2.64. The firm has a market cap of $1.08 billion, a P/E ratio of -19.00 and a beta of 2.09.

Hedge Funds Weigh In On Clover Health Investments

Hedge funds have recently modified their holdings of the stock. Abel Hall LLC bought a new stake in Clover Health Investments during the fourth quarter worth about $27,000. Clarity Wealth Advisors LLC acquired a new position in shares of Clover Health Investments during the 2nd quarter worth approximately $28,000. Allworth Financial LP raised its stake in shares of Clover Health Investments by 218.9% during the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock worth $29,000 after purchasing an additional 6,527 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Clover Health Investments in the 4th quarter valued at approximately $29,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Clover Health Investments in the fourth quarter valued at $29,000. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Company Profile

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.