Clover Health Investments (NASDAQ:CLOV) Trading 5.5% Higher - Still a Buy?

Key Points

• CLOV jumped about 5.5% to $1.8140 on Monday on sharply reduced volume (≈1.04M shares vs. average 5.87M), after closing at $1.72 previously.
• Analysts show mixed views but a consensus rating of Hold with a $2.90 consensus price target (1 Buy, 3 Hold, 1 Sell) and several recent price-target cuts.
• Fundamentals remain weak: the company has a market cap of ~$984M and reported an EPS loss of ($0.10) (miss) on $487.7M revenue with negative margins and ROE, and the CEO sold 175,000 shares in March.

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) was up 5.5% during trading on Monday . The stock traded as high as $1.84 and last traded at $1.8140. Approximately 1,039,795 shares were traded during trading, a decline of 82% from the average daily volume of 5,868,832 shares. The stock had previously closed at $1.72.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CLOV shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Clover Health Investments in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Clover Health Investments from a "sell" rating to a "hold" rating in a research note on Sunday, February 15th. Leerink Partners lowered their target price 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 cut their price target on Clover Health Investments from $3.70 to $3.20 and set a "buy" rating on the stock 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 company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $2.90.

Clover Health Investments Trading Up 9.0%

The stock has a market cap of $983.76 million, a PE ratio of -11.03 and a beta of 2.24. The business's 50-day moving average price is $2.01 and its 200-day moving average price is $2.48.

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

Insider Transactions at Clover Health Investments

In other Clover Health Investments news, CEO Brady Patrick Priest sold 175,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $2.17, for a total value of $379,750.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 24.07% of the stock is owned by corporate insiders.

Institutional Trading of Clover Health Investments

A number of institutional investors have recently bought and sold shares of CLOV. AQR Capital Management LLC acquired a new position in Clover Health Investments during the 1st quarter valued at approximately $49,000. Integrated Wealth Concepts LLC acquired a new position in shares of Clover Health Investments in the 1st quarter valued at $37,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Clover Health Investments by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 855,264 shares of the company's stock worth $3,070,000 after acquiring an additional 24,807 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in Clover Health Investments during the 2nd quarter worth about $31,000. Finally, JPMorgan Chase & Co. grew its stake in Clover Health Investments by 41.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 633,700 shares of the company's stock valued at $1,768,000 after purchasing an additional 186,047 shares during the last quarter. 19.77% of the stock is currently 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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