In the latest trading session, 0.83 million Clover Health Investments Corp (NASDAQ:CLOV) shares changed hands as the company’s beta touched 2.01. With the company’s most recent per share price at $0.98 changed hands at -$0.04 or -3.78% at last look, the market valuation stands at $478.57M. CLOV’s current price is a discount, trading about -66.33% off its 52-week high of $1.63. The share price had its 52-week low at $0.71, which suggests the last value was 27.55% up since then. When we look at Clover Health Investments Corp’s average trading volume, we note the 10-day average is 8.77 million shares, with the 3-month average coming to 3.99 million.
Analysts gave the Clover Health Investments Corp (CLOV) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.33. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended CLOV as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Clover Health Investments Corp’s EPS for the current quarter is expected to be -$0.14.
Clover Health Investments Corp (NASDAQ:CLOV) trade information
Instantly CLOV was in red as seen in intraday trades today. With action 9.12%, the performance over the past five days has been green. The drop to weekly highs of 1.0600 on Friday, 11/17/23 subtracted -3.78% to the stock’s daily price. The company’s shares are showing year-to-date upside of 5.58%, with the 5-day performance at 9.12% in the green. However, in the 30-day time frame, Clover Health Investments Corp (NASDAQ:CLOV) is -0.77% down. Looking at the short shares, we see there were 24.15 million shares sold at short interest cover period of 8.58 days.
The consensus price target for the stock as assigned by Wall Street analysts is $1.33, meaning bulls need an upside of 26.32% from its recent market value. According to analyst projections, CLOV’s forecast low is $1.00 with $2.00 as the target high. To hit the forecast high, the stock’s price needs a -104.08% plunge from its current level, while the stock would need to soar -2.04% 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 -8.28% over the past 6 months, a 30.26% in annual growth rate that is considerably higher than the industry average of 13.60%. 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 17.60%, while the growth in revenue is estimated to hit 53.30% for the next quarter. Year-over-year growth is forecast to reach -42.50% down from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $478.75 million. 2 analysts are of the opinion that Clover Health Investments Corp’s revenue for the quarter ending Mar 2024 will be $432.9 million. The company’s revenue for the corresponding quarters a year ago was $898.79 million and $527.77 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -46.70%. The estimates for the next quarter sales put growth at -18.00%.
The 2023 estimates are for Clover Health Investments Corp earnings to increase by 41.55%, but the outlook for the next 5-year period is at 19.10% per year.