Clover Health Investments (NASDAQ:CLOV) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Clover Health (NASDAQ:CLOV) from a "hold" to a "sell," signaling increased caution from that research provider.
• Analyst coverage is mixed but the consensus remains "Hold" with an average price target of $3.23 (ratings: 1 Buy, 3 Hold, 1 Sell).
• Shares trade near $2.13 with a market cap of about $1.1B; the company reported a quarterly EPS of -$0.05 (miss) and revenue of $496.65M (beat), and remains unprofitable with a projected full-year EPS of -0.12.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also weighed in on CLOV. Weiss Ratings reissued a "sell (d-)" rating on shares of Clover Health Investments in a research note on Monday, December 29th. Zacks Research cut Clover Health Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, November 24th. Canaccord Genuity Group reiterated a "buy" rating and set a $3.70 price objective on shares of Clover Health Investments in a research report on Tuesday, January 20th. Finally, Leerink Partners set a $3.00 price objective on Clover Health Investments and gave the stock a "market perform" rating in a research note on Tuesday, October 21st. 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 company. According to data from MarketBeat.com, Clover Health Investments presently has an average rating of "Hold" and a consensus target price of $3.23.

Clover Health Investments Trading Up 4.4%

CLOV opened at $2.13 on Friday. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -19.36 and a beta of 2.09. Clover Health Investments has a 12 month low of $2.03 and a 12 month high of $4.80. The stock has a fifty day moving average price of $2.50 and a 200-day moving average price of $2.71.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.07). The company had revenue of $496.65 million during the quarter, compared to analysts' expectations of $467.18 million. Clover Health Investments had a negative net margin of 3.29% and a negative return on equity of 16.79%. On average, equities research analysts forecast that Clover Health Investments will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Clover Health Investments

Several institutional investors have recently bought and sold shares of CLOV. Clarity Wealth Advisors LLC acquired a new stake in Clover Health Investments in the second quarter valued at $28,000. Allworth Financial LP grew its stake in Clover Health Investments by 218.9% in the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company's stock valued at $29,000 after acquiring an additional 6,527 shares during the last quarter. Alteri Wealth LLC acquired a new stake in Clover Health Investments in the 2nd quarter valued at about $30,000. Envestnet Asset Management Inc. purchased a new position in Clover Health Investments during the 2nd quarter valued at about $31,000. Finally, Lido Advisors LLC acquired a new position in Clover Health Investments during the second quarter worth about $32,000. 19.77% of the stock is owned by institutional investors and hedge funds.

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.

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