Clover Health Investments (NASDAQ:CLOV) Trading Up 10.2% – Should You Buy?

Clover Health Investments, Corp. (NASDAQ:CLOV) was up 10.2% during trading on Wednesday . The stock traded as high as $3.59 and last traded at $3.6150. Approximately 7,776,257 shares changed hands during mid-day trading, an increase of 30% from the average daily volume of 5,987,013 shares. The stock had previously closed at $3.28.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CLOV shares. Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a report on Friday, March 27th. Leerink Partners reduced 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, Canaccord Genuity Group reduced their price objective on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a report on Friday, March 20th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.90.

Clover Health Investments Trading Down 0.7%

The firm has a fifty day moving average of $2.21 and a 200 day moving average of $2.40. The company has a market capitalization of $1.82 billion, a P/E ratio of -28.86 and a beta of 2.44.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The firm had revenue of $749.19 million for the quarter, compared to the consensus estimate of $714.89 million. Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. Sell-side analysts anticipate that Clover Health Investments, Corp. will post -0.02 EPS for the current fiscal year.

Insider Activity

In other Clover Health Investments news, CEO Brady Patrick Priest sold 98,039 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $3.52, for a total transaction of $345,097.28. Following the completion of the sale, the chief executive officer directly owned 2,040,222 shares in the company, valued at $7,181,581.44. The trade was a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clover Health Investments

A number of large investors have recently made changes to their positions in the company. Forum Financial Management LP grew its stake in shares of Clover Health Investments by 8.7% during the 3rd quarter. Forum Financial Management LP now owns 37,237 shares of the company’s stock valued at $114,000 after purchasing an additional 2,990 shares during the period. Alliancebernstein L.P. grew its stake in shares of Clover Health Investments by 1.2% during the 3rd quarter. Alliancebernstein L.P. now owns 415,985 shares of the company’s stock valued at $1,273,000 after purchasing an additional 5,085 shares during the period. ProShare Advisors LLC grew its stake in shares of Clover Health Investments by 8.2% during the 4th quarter. ProShare Advisors LLC now owns 74,700 shares of the company’s stock valued at $176,000 after purchasing an additional 5,660 shares during the period. Swiss Life Asset Management Ltd grew its stake in shares of Clover Health Investments by 53.5% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 17,002 shares of the company’s stock valued at $52,000 after purchasing an additional 5,926 shares during the period. Finally, Allworth Financial LP grew 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 valued at $29,000 after purchasing an additional 6,527 shares during the period. 19.77% of the stock is currently owned by institutional investors.

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.