Clover Health Investments (NASDAQ:CLOV) Coverage Initiated at Craig Hallum

Stock analysts at Craig Hallum initiated coverage on shares of Clover Health Investments (NASDAQ:CLOV) in a research report issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $6.00 price target on the stock. Craig Hallum’s price objective would indicate a potential upside of 92.31% from the stock’s previous close.

Separately, UBS Group began coverage on shares of 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 Performance

Shares of NASDAQ CLOV opened at $3.12 on Tuesday. The stock has a market cap of $1.56 billion, a P/E ratio of -15.60 and a beta of 1.94. The firm has a 50 day moving average price of $3.64 and a 200 day moving average price of $2.64. Clover Health Investments has a 52-week low of $0.61 and a 52-week high of $4.71.

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

Hedge Funds Weigh In On Clover Health Investments

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of Clover Health Investments by 21.9% in the third quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company’s stock valued at $13,622,000 after acquiring an additional 868,501 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Clover Health Investments by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company’s stock valued at $8,461,000 after acquiring an additional 150,550 shares in the last quarter. State Street Corp grew its stake in shares of Clover Health Investments by 65.0% in the third quarter. State Street Corp now owns 2,189,380 shares of the company’s stock valued at $6,174,000 after acquiring an additional 862,621 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Clover Health Investments by 75.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock valued at $3,181,000 after acquiring an additional 485,987 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Clover Health Investments in the second quarter valued at about $932,000. 19.77% of the stock is owned by institutional investors.

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.