Investments

Clover Well being Investments (NASDAQ:CLOV) Ranking Elevated to Purchase at Zacks Funding Analysis


Clover Well being Investments (NASDAQ:CLOV – Get Ranking) was upgraded by Zacks Funding Analysis from a “maintain” ranking to a “purchase” ranking in a analysis report issued on Tuesday, Zacks.com studies. The brokerage presently has a $3.25 value goal on the inventory. Zacks Funding Analysis‘s goal value signifies a possible upside of 21.27% from the corporate’s earlier shut.

In accordance with Zacks, “Clover Well being Investments Corp. is a healthcare expertise firm. It makes use of its proprietary expertise platform to gather, construction and analyze well being and behavioral knowledge to enhance medical outcomes and decrease prices for sufferers. Clover Well being Investments Corp., previously often known as Social Capital Hedosophia Holdings Corp. III, relies in Calif. “

Quite a lot of different equities analysts additionally not too long ago weighed in on the corporate. SVB Leerink decreased their value goal on Clover Well being Investments from $3.00 to $2.50 and set a “market carry out” ranking for the corporate in a analysis report on Friday, February twenty fifth. Credit score Suisse Group downgraded Clover Well being Investments from a “impartial” ranking to an “underperform” ranking and lower their value goal for the corporate from $9.00 to $3.50 in a report on Friday, January seventh. Canaccord Genuity Group raised their value goal on Clover Well being Investments from $6.00 to $7.00 and gave the corporate a “purchase” ranking in a report on Thursday, February twenty fourth. Cowen raised Clover Well being Investments from an “underperform” ranking to a “market carry out” ranking and lower their value goal for the corporate from $7.00 to $3.00 in a report on Wednesday, February 2nd. Lastly, Canaccord Genuity Group began protection on Clover Well being Investments in a analysis report on Wednesday, February 2nd. They set a “purchase” ranking and a $6.00 value goal on the inventory. Three funding analysts have rated the inventory with a promote ranking, three have given a maintain ranking and 4 have assigned a purchase ranking to the inventory. Based mostly on knowledge from MarketBeat, the inventory has a median ranking of “Maintain” and a consensus value goal of $6.43.

Clover Well being Investments inventory traded down $0.21 throughout buying and selling hours on Tuesday, reaching $2.68. 4,954,541 shares of the corporate’s inventory traded arms, in comparison with its common quantity of 13,671,104. The corporate has a debt-to-equity ratio of 0.04, a fast ratio of two.02 and a present ratio of two.02. The agency has a market capitalization of $1.27 billion, a price-to-earnings ratio of -1.87 and a beta of 1.64. The agency’s 50 day transferring common is $3.01 and its 200-day transferring common is $4.19. Clover Well being Investments has a fifty-two week low of $1.95 and a fifty-two week excessive of $28.85.

Clover Well being Investments (NASDAQ:CLOV – Get Ranking) final introduced its quarterly earnings outcomes on Monday, February twenty eighth. The corporate reported ($0.44) EPS for the quarter, lacking analysts’ consensus estimates of ($0.26) by ($0.18). Clover Well being Investments had a unfavourable web margin of 39.93% and a unfavourable return on fairness of 97.71%. The corporate had income of $432.04 million in the course of the quarter, in comparison with the consensus estimate of $412.00 million. Analysts predict that Clover Well being Investments will publish -0.93 EPS for the present yr.

In different information, Director Chelsea Clinton acquired 100,000 shares of the agency’s inventory in a transaction dated Thursday, March third. The inventory was bought at a median value of $2.53 per share, for a complete transaction of $253,000.00. The acquisition was disclosed in a authorized submitting with the Securities & Trade Fee, which could be accessed by means of this hyperlink. Additionally, Director Lee Shapiro bought 80,000 shares of the agency’s inventory in a transaction that occurred on Friday, March eleventh. The shares have been purchased at a median value of $3.10 per share, with a complete worth of $248,000.00. The disclosure for this buy could be discovered right here.

A number of hedge funds and different institutional traders have not too long ago modified their holdings of CLOV. PNC Monetary Companies Group Inc. lifted its holdings in Clover Well being Investments by 367,220.4% in the course of the third quarter. PNC Monetary Companies Group Inc. now owns 6,611,767 shares of the corporate’s inventory price $48,861,000 after buying a further 6,609,967 shares within the final quarter. Ghisallo Capital Administration LLC purchased a brand new place in Clover Well being Investments within the 4th quarter price about $19,705,000. Baillie Gifford & Co. elevated its stake in Clover Well being Investments by 51.4% within the 4th quarter. Baillie Gifford & Co. now owns 7,787,680 shares of the corporate’s inventory price $28,970,000 after buying a further 2,645,503 shares over the past quarter. BlackRock Inc. elevated its stake in Clover Well being Investments by 53.5% within the 4th quarter. BlackRock Inc. now owns 5,351,416 shares of the corporate’s inventory price $19,907,000 after buying a further 1,865,164 shares over the past quarter. Lastly, Cubist Systematic Methods LLC elevated its place in shares of Clover Well being Investments by 2,036.3% in the course of the 4th quarter. Cubist Systematic Methods LLC now owns 1,598,145 shares of the corporate’s inventory valued at $5,945,000 after buying a further 1,523,336 shares over the past quarter. 18.14% of the inventory is presently owned by hedge funds and different institutional traders.

Clover Well being Investments Firm Profile (Get Ranking)

Clover Well being Investments, Corp. operates as a medicare benefit insurer in america. The corporate by means of its Clover Assistant, a software program platform that gives most well-liked supplier group and well being upkeep group well being plans for medicare-eligible shoppers. It additionally focuses on non-insurance companies.

Additional Studying

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Analyst Recommendations for Clover Health Investments (NASDAQ:CLOV)



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