Brokerages Set Clover Health Investments, Corp. (NASDAQ:CLOV) Target Price at $4.03

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $4.0250.

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday, October 8th. Zacks Research raised Clover Health Investments from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Leerink Partners set a $3.00 price objective on Clover Health Investments and gave the company a “market perform” rating in a research note on Tuesday, October 21st. UBS Group dropped their price objective on Clover Health Investments from $4.50 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Finally, Canaccord Genuity Group dropped their price objective on Clover Health Investments from $4.50 to $4.10 and set a “buy” rating for the company in a research note on Thursday, August 7th.

Insider Transactions at Clover Health Investments

In other Clover Health Investments news, Director Anna U. Loengard acquired 26,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average price of $2.59 per share, with a total value of $68,635.00. Following the completion of the purchase, the director owned 29,610 shares of the company’s stock, valued at approximately $76,689.90. This represents a 852.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 24.07% of the company’s stock.

Institutional Investors Weigh In On Clover Health Investments

A number of large investors have recently added to or reduced their stakes in the company. Clarity Wealth Advisors LLC bought a new stake in Clover Health Investments during the second quarter worth about $28,000. Fifth Third Bancorp bought a new stake in Clover Health Investments during the second quarter worth about $28,000. Perigon Wealth Management LLC bought a new stake in Clover Health Investments during the first quarter worth about $36,000. Integrated Wealth Concepts LLC bought a new stake in Clover Health Investments during the first quarter worth about $37,000. Finally, Alteri Wealth LLC bought a new stake in Clover Health Investments during the second quarter worth about $30,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Price Performance

Clover Health Investments stock opened at $3.47 on Tuesday. Clover Health Investments has a one year low of $2.12 and a one year high of $4.87. The business has a fifty day moving average price of $2.95 and a 200-day moving average price of $3.02. The firm has a market capitalization of $1.78 billion, a P/E ratio of -43.38 and a beta of 2.10.

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.