Clover Health Investments (NASDAQ:CLOV) Shares Down 2.8% – What’s Next?

Clover Health Investments, Corp. (NASDAQ:CLOV) shares traded down 2.8% during trading on Tuesday . The company traded as low as $3.17 and last traded at $3.18. 855,419 shares were traded during mid-day trading, a decline of 89% from the average session volume of 7,693,964 shares. The stock had previously closed at $3.27.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group initiated coverage on Clover Health Investments in a research note on Monday, October 7th. They set a “neutral” rating and a $4.00 price target for the company. Craig Hallum began coverage on Clover Health Investments in a research report on Tuesday, December 17th. They issued a “buy” rating and a $6.00 target price for the company.

Clover Health Investments Trading Down 2.1 %

The company has a market cap of $1.60 billion, a P/E ratio of -16.00 and a beta of 1.94. The company’s fifty day moving average is $3.56 and its 200 day moving average is $2.71.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. The firm had revenue of $330.99 million for the quarter, compared to analysts’ expectations of $347.60 million. During the same period last year, the firm earned ($0.09) earnings per share. Analysts anticipate that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Clover Health Investments

Several institutional investors and hedge funds have recently bought and sold shares of the business. Forum Financial Management LP raised its holdings in shares of Clover Health Investments by 33.8% during the third quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock valued at $45,000 after acquiring an additional 4,061 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Clover Health Investments by 98.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 20,090 shares of the company’s stock worth $57,000 after purchasing an additional 9,988 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in Clover Health Investments in the 3rd quarter worth $28,000. Sigma Planning Corp purchased a new stake in shares of Clover Health Investments in the 3rd quarter worth about $29,000. Finally, SignalPoint Asset Management LLC boosted its stake in shares of Clover Health Investments by 8.1% during the 3rd quarter. SignalPoint Asset Management LLC now owns 150,684 shares of the company’s stock valued at $425,000 after purchasing an additional 11,318 shares in the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Company Profile

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.