Clover Health Investments (NASDAQ:CLOV) Sets New 12-Month High – Should You Buy?

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) hit a new 52-week high during trading on Wednesday . The company traded as high as $4.28 and last traded at $4.26, with a volume of 6755440 shares trading hands. The stock had previously closed at $4.13.

Wall Street Analyst Weigh In

Separately, UBS Group assumed coverage on Clover Health Investments in a research report on Monday, October 7th. They set a “neutral” rating and a $4.00 price target on the stock.

Clover Health Investments Stock Up 3.1 %

The business has a 50 day simple moving average of $3.00 and a 200-day simple moving average of $1.77. The company has a market capitalization of $2.11 billion, a P/E ratio of -12.15 and a beta of 2.13.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Monday, August 5th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. The firm had revenue of $356.26 million during the quarter, compared to analysts’ expectations of $338.70 million. Clover Health Investments had a negative net margin of 7.30% and a negative return on equity of 36.55%. During the same quarter in the prior year, the firm earned ($0.06) EPS. Equities analysts forecast that Clover Health Investments, Corp. will post -0.13 EPS for the current fiscal year.

Institutional Trading of Clover Health Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. boosted its stake in shares of Clover Health Investments by 18.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company’s stock worth $3,593,000 after acquiring an additional 692,878 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Clover Health Investments in the 2nd quarter valued at $932,000. Choreo LLC purchased a new position in Clover Health Investments in the 2nd quarter worth about $344,000. SignalPoint Asset Management LLC raised its holdings in Clover Health Investments by 40.3% during the 1st quarter. SignalPoint Asset Management LLC now owns 139,366 shares of the company’s stock worth $111,000 after buying an additional 40,000 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Clover Health Investments by 151.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 77,948 shares of the company’s stock valued at $62,000 after acquiring an additional 46,912 shares in the last quarter. 19.77% of the stock is owned by institutional investors and hedge funds.

About Clover Health Investments

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.