Clover Health Investments (NASDAQ:CLOV) Shares Down 3.3%

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) traded down 3.3% during trading on Friday . The company traded as low as $13.77 and last traded at $13.86. 200,215 shares traded hands during trading, a decline of 99% from the average session volume of 33,393,098 shares. The stock had previously closed at $14.34.

Several brokerages have commented on CLOV. Credit Suisse Group decreased their target price on shares of Clover Health Investments from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, May 19th. Bank of America cut shares of Clover Health Investments from a “neutral” rating to an “underperform” rating and set a $10.00 price objective on the stock. in a research report on Thursday. Zacks Investment Research downgraded shares of Clover Health Investments from a “hold” rating to a “sell” rating in a research note on Wednesday, May 19th. Citigroup decreased their target price on Clover Health Investments from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, May 18th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell dropped their price target on Clover Health Investments from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, May 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $10.80.

The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.04. The firm’s fifty day simple moving average is $8.83.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Monday, May 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The company had revenue of $200.33 million during the quarter. Sell-side analysts forecast that Clover Health Investments, Corp. will post -0.5 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new position in Clover Health Investments in the fourth quarter worth approximately $232,000. Valeo Financial Advisors LLC bought a new stake in Clover Health Investments in the fourth quarter worth approximately $205,000. Edge Wealth Management LLC acquired a new position in shares of Clover Health Investments during the 1st quarter worth $76,000. FNY Investment Advisers LLC bought a new position in shares of Clover Health Investments during the 1st quarter valued at $83,000. Finally, NEXT Financial Group Inc acquired a new stake in shares of Clover Health Investments in the 1st quarter valued at $162,000. 38.24% of the stock is owned by institutional investors and hedge funds.

Clover Health Investments Company Profile (NASDAQ:CLOV)

Clover Health Investments, Corp. operates as a Medicare Advantage insurer in the United States. The company through its software platform provides preferred provider organization and health maintenance organization health plans for Medicare-eligible consumers. Clover Health Investments, Corp. was founded in 2014 and is headquartered in Franklin, Tennessee.

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