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Clover Health Investments Corp. (NASDAQ: CLOV)’s Stock Performance and Outlook

In the latest trading session, 0.81 million Clover Health Investments Corp. (NASDAQ:CLOV) shares changed hands as the company’s beta touched 2.03. With the company’s most recent per share price at $1.13 changing hands around $0.0 or 0.00% at last look, the market valuation stands at $547.90M. CLOV’s current price is a discount, trading about -103.54% off its 52-week high of $2.30. The share price had its 52-week low at $0.71, which suggests the last value was 37.17% up since then. When we look at Clover Health Investments Corp.’s average trading volume, we note the 10-day average is 4.12 million shares, with the 3-month average coming to 8.29 million.

Analysts gave the Clover Health Investments Corp. (CLOV) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.00. If we narrow down to specifics, the data shows that 1 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended CLOV as a Hold, 1 felt it is a Buy and 1 rated the stock as Underweight. Clover Health Investments Corp.’s EPS for the current quarter is expected to be -$0.12.

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Clover Health Investments Corp. (NASDAQ:CLOV) trade information

With action -16.30%, the performance over the past five days has been red. The weekly highs of 1.3800 on Friday, 09/15/23. The company’s shares are showing year-to-date upside of 21.57%, with the 5-day performance at -16.30% in the red. However, in the 30-day time frame, Clover Health Investments Corp. (NASDAQ:CLOV) is -17.52% down. Looking at the short shares, we see there were 22.72 million shares sold at short interest cover period of 3.92 days.

The consensus price target for the stock as assigned by Wall Street analysts is $1.65, meaning bulls need an upside of 31.52% from its recent market value. According to analyst projections, CLOV’s forecast low is $0.90 with $3.00 as the target high. To hit the forecast high, the stock’s price needs a -165.49% plunge from its current level, while the stock would need to tank 20.35% for it to hit the projected low.

Clover Health Investments Corp. (CLOV) estimates and forecasts

Data shows that the Clover Health Investments Corp. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 20.89% over the past 6 months, a 30.26% in annual growth rate that is considerably higher than the industry average of 11.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Clover Health Investments Corp. will rise 25.00%, while the growth in revenue is estimated to hit 5.90% for the next quarter. Year-over-year growth is forecast to reach -42.40% down from the last financial year.

Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $482.23 million. 5 analysts are of the opinion that Clover Health Investments Corp.’s revenue for the quarter ending Dec 2023 will be $482.24 million. The company’s revenue for the corresponding quarters a year ago was $856.82 million and $898.79 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -43.70%. The estimates for the next quarter sales put growth at -46.30%.

The 2023 estimates are for Clover Health Investments Corp. earnings to increase by 50.00%, but the outlook for the next 5-year period is at 19.10% per year.

CLOV Dividends

Clover Health Investments Corp. is expected to release its next quarterly earnings report in October.

Clover Health Investments Corp. (NASDAQ:CLOV)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 7.61% of Clover Health Investments Corp. shares while 31.74% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 34.35%. There are 31.74% institutions holding the Clover Health Investments Corp. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 7.92% of the shares, roughly 31.43 million CLOV shares worth $28.2 million.

Renaissance Technologies, LLC holds the second largest percentage of outstanding shares, with 2.23% or 8.85 million shares worth $7.94 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 10.28 million shares estimated at $9.22 million under it, the former controlled 2.59% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.30% of the shares, roughly 9.15 million shares worth around $8.21 million.

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