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

Clover Health Investments, Corp. (NASDAQ:CLOV) has received a consensus rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $2.90.

Several analysts have issued reports on CLOV shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday, March 27th. Leerink Partners dropped their target price on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a research report on Thursday, March 5th. Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. Finally, Canaccord Genuity Group dropped their target price on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating on the stock in a research report on Friday, March 20th.

Insiders Place Their Bets

In other news, Director Carladenise Armbrister Edwards sold 67,160 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $3.42, for a total value of $229,687.20. Following the completion of the sale, the director owned 285,432 shares of the company’s stock, valued at $976,177.44. This trade represents a 19.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brady Patrick Priest sold 98,039 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $3.52, for a total value of $345,097.28. Following the completion of the sale, the chief executive officer directly owned 2,040,222 shares of the company’s stock, valued at $7,181,581.44. The trade was a 4.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 340,199 shares of company stock valued at $954,534 in the last three months. Insiders own 23.51% of the company’s stock.

Institutional Trading of Clover Health Investments

A number of institutional investors have recently made changes to their positions in CLOV. Abel Hall LLC acquired a new stake in shares of Clover Health Investments in the 4th quarter worth $27,000. Allworth Financial LP boosted its position in shares of Clover Health Investments by 218.9% in 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 worth $29,000. Schonfeld Strategic Advisors LLC acquired a new stake in Clover Health Investments during the 4th quarter worth about $29,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Clover Health Investments during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Stock Up 2.6%

CLOV opened at $3.59 on Friday. The stock’s fifty day moving average is $2.33 and its two-hundred day moving average is $2.39. The company has a market capitalization of $1.89 billion, a P/E ratio of -29.91 and a beta of 2.44. Clover Health Investments has a 52 week low of $1.58 and a 52 week high of $3.92.

Clover Health Investments (NASDAQ:CLOV) last announced its earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company 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%. Equities analysts anticipate that Clover Health Investments will post -0.02 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.