Clover Health Investments (NASDAQ:CLOV) Hits New 1-Year Low – Time to Sell?

Clover Health Investments, Corp. (NASDAQ:CLOV)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $1.92 and last traded at $1.9250, with a volume of 4887658 shares changing hands. The stock had previously closed at $1.97.

Analysts Set New Price Targets

CLOV has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday, December 29th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $3.70 price target on shares of Clover Health Investments in a report on Tuesday, January 20th. Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. Leerink Partners decreased their price objective on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a report on Thursday, March 5th. Finally, Zacks Research downgraded Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.07.

Clover Health Investments Stock Performance

The company has a market capitalization of $989.44 million, a price-to-earnings ratio of -11.26 and a beta of 2.15. The business’s 50 day moving average is $2.21 and its 200 day moving average is $2.58.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). Clover Health Investments had a negative return on equity of 25.17% and a negative net margin of 4.45%.The company had revenue of $487.71 million during the quarter, compared to analysts’ expectations of $467.06 million. Sell-side analysts predict that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

Insider Activity at Clover Health Investments

In other Clover Health Investments news, CEO Brady Patrick Priest sold 175,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $2.17, for a total transaction of $379,750.00. Following the completion of the transaction, the chief executive officer directly owned 1,998,584 shares of the company’s stock, valued at approximately $4,336,927.28. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 24.07% of the stock is owned by company insiders.

Institutional Trading of Clover Health Investments

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Clover Health Investments by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock valued at $55,192,000 after purchasing an additional 425,904 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Clover Health Investments by 95.7% in the 2nd quarter. Geode Capital Management LLC now owns 9,843,349 shares of the company’s stock valued at $27,467,000 after buying an additional 4,812,368 shares during the period. State Street Corp boosted its stake in shares of Clover Health Investments by 4.1% in the fourth quarter. State Street Corp now owns 9,320,183 shares of the company’s stock worth $21,902,000 after buying an additional 368,507 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Clover Health Investments by 9.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,690,904 shares of the company’s stock worth $11,024,000 after acquiring an additional 419,389 shares during the period. Finally, Bank of America Corp DE raised its position in Clover Health Investments by 217.5% during the second quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock valued at $11,196,000 after acquiring an additional 2,748,783 shares in the last quarter. Institutional investors and hedge funds 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.