Analysts Set Clover Health Investments, Corp. (NASDAQ:CLOV) Target Price at $2.90

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have been given a consensus rating of “Hold” by the five research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $2.90.

A number of research analysts recently weighed in on CLOV shares. Canaccord Genuity Group cut their price objective on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating on the stock in a research note on Friday, March 20th. Leerink Partners decreased their target price on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research report on Thursday, March 5th. Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday.

Insider Transactions at Clover Health Investments

In related news, CEO Brady Patrick Priest sold 175,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $2.17, for a total value of $379,750.00. Following the transaction, the chief executive officer directly owned 1,998,584 shares in the company, 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 is available through this link. Insiders own 24.07% of the company’s stock.

Institutional Investors Weigh In On Clover Health Investments

A number of hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in Clover Health Investments in the 1st quarter worth $49,000. Integrated Wealth Concepts LLC acquired a new position in shares of Clover Health Investments during the first quarter valued at about $37,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Clover Health Investments by 3.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 855,264 shares of the company’s stock valued at $3,070,000 after buying an additional 24,807 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Clover Health Investments in the second quarter valued at about $31,000. Finally, Geode Capital Management LLC lifted its stake in shares of Clover Health Investments by 95.7% in the second 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. 19.77% of the stock is currently owned by institutional investors.

Clover Health Investments Price Performance

Clover Health Investments stock opened at $1.76 on Friday. Clover Health Investments has a one year low of $1.70 and a one year high of $3.92. The company’s fifty day moving average price is $2.07 and its two-hundred day moving average price is $2.51. The company has a market capitalization of $923.42 million, a price-to-earnings ratio of -10.35 and a beta of 2.15.

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

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.