Craig Hallum Initiates Coverage on Clover Health Investments (NASDAQ:CLOV)

Investment analysts at Craig Hallum started coverage on shares of Clover Health Investments (NASDAQ:CLOV) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $6.00 price target on the stock. Craig Hallum’s target price would suggest 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 report on Monday, October 7th. They issued a “neutral” rating and a $4.00 target price for the company.

Clover Health Investments Stock Up 0.3 %

Shares of Clover Health Investments stock opened at $3.12 on Tuesday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -15.60 and a beta of 1.94. Clover Health Investments has a 12-month low of $0.61 and a 12-month high of $4.71. The firm’s 50-day moving average price is $3.64 and its two-hundred day moving average price is $2.64.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The firm 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 business earned ($0.09) earnings per share. On average, sell-side analysts expect that Clover Health Investments will post -0.12 earnings per share for the current year.

Institutional Trading of Clover Health Investments

Hedge funds have recently bought and sold shares of the business. Concurrent Investment Advisors LLC purchased a new position in Clover Health Investments during the 3rd quarter worth $28,000. Sigma Planning Corp purchased a new position in Clover Health Investments during the 3rd quarter valued at about $29,000. Viewpoint Capital Management LLC grew its holdings in Clover Health Investments by 96.8% during the 2nd quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock valued at $38,000 after buying an additional 15,000 shares in the last quarter. Parallax Volatility Advisers L.P. purchased a new position in shares of Clover Health Investments during the third quarter worth about $38,000. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Clover Health Investments by 54.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock worth $42,000 after purchasing an additional 12,104 shares in the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

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.