Clover Health Investments, Corp. (NASDAQ:CLOV – Get Rating) received a consensus recommendation of “Hold” by the six rating agencies that currently cover the company, MarketBeat reports. One investment analyst gave the stock a sell rating, two gave the company a hold rating and two gave the company a buy rating. The 12-month average price target among brokerages that have reported on the stock over the past year is $4.17.
Several analysts have recently weighed in on CLOV shares. Credit Suisse Group lowered its price target on Clover Health Investments from $3.50 to $3.00 and set an “underperform” rating for the company in a Tuesday, Aug. 9 research note. Citigroup raised its price target on shares of Clover Health Investments to $3.50 in a Monday, August 15, report.
Price performance of Clover Health Investments
The NASDAQ CLOV opened Wednesday at $2.02. Clover Health Investments has a 1-year minimum of $1.95 and a 1-year maximum of $8.58. The company has a fifty-day simple moving average of $2.69 and a 200-day simple moving average of $2.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt ratio of 0.05. The company has a market capitalization of $964.84 million, a P/E ratio of -2.24 and a beta of 1.95.
Institutional entries and exits
Several institutional investors and hedge funds have recently changed their CLOV holdings. Viewpoint Capital Management LLC increased its holdings of Clover Health Investments shares by 19.6% in the first quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company valued at $108,000 after purchasing an additional 5,000 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Clover Health Investments by 8.4% during the second quarter. Arizona State Retirement System now owns 87,193 shares of the company valued at $187,000 after acquiring an additional 6,792 shares during the period. JPMorgan Chase & Co. increased its stake in Clover Health Investments by 10.2% in the first quarter. JPMorgan Chase & Co. now owns 77,719 shares of the company valued at $276,000 after acquiring 7,199 additional shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Clover Health Investments shares by 15.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 57,507 shares of the company worth $204,000 after purchasing an additional 7,730 shares during the period. Finally, Prelude Capital Management LLC increased its stake in the shares of Clover Health Investments by 65.8% during the first quarter. Prelude Capital Management LLC now owns 19,732 shares of the company worth $70,000 after purchasing an additional 7,832 shares in the last quarter. 25.75% of the shares are held by institutional investors and hedge funds.
About Clover Health Investments
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Clover Health Investments, Corp. operates as the insurer of Medicare Advantage in the United States. The Company through its Clover Assistant, a software platform that provides preferred provider organization and health maintenance organization health plans for Medicare-eligible consumers. It also focuses on non-insurance related activities.
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