Clover Health Investments Corp (NASDAQ: CLOV) Could Post Excellent Profits?

In the last trading session, 9.96 million shares of the Clover Health Investments Corp (NASDAQ:CLOV) were traded, and its beta was 1.85. Most recently the company’s share price was $0.79, and it changed around $0.0 or 0.13% from the last close, which brings the market valuation of the company to $391.85M. CLOV currently trades at a discount to its 52-week high of $1.63, offering almost -106.33% off that amount. The share price’s 52-week low was $0.71, which indicates that the current value has risen by an impressive 10.13% since then. We note from Clover Health Investments Corp’s average daily trading volume that its 10-day average is 8.99 million shares, with the 3-month average coming to 9.40 million.

Clover Health Investments Corp stock received a consensus recommendation rating of Hold, based on a mean score of 2.33. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 3 recommended CLOV as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Clover Health Investments Corp is expected to report earnings per share of -$0.07 for the current quarter.

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Clover Health Investments Corp (NASDAQ:CLOV) trade information

Instantly CLOV has showed a green trend with a performance of 0.13% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -16.61% year-to-date, but still down -8.10% over the last five days. On the other hand, Clover Health Investments Corp (NASDAQ:CLOV) is -7.73% down in the 30-day period. We can see from the shorts that 47.54 million shares have been sold at a short interest cover period of 3.45 day(s).

The consensus price target as assigned by Wall Street analysts is $1.8, which translates to bulls needing to increase their stock price by 56.11% from its current value. Analyst projections state that CLOV is forecast to be at a low of $1.8 and a high of $1.8.

Clover Health Investments Corp (CLOV) estimates and forecasts

Clover Health Investments Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -26.48 percent over the past six months and at a 51.22% annual growth rate that is well above the industry average of 23.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 53.30% in revenue this quarter, and will report an increase of 33.30% in the next quarter. The year-over-year growth rate is expected to be -37.30%, down from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $321.23 million in revenue for the current quarter. 3 analysts expect Clover Health Investments Corp to make $321.13 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $527.77 million and $513.63 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -39.10%. Forecasts for the next quarter put sales growth at -37.50%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -585.84%. Clover Health Investments Corp earnings are expected to increase by 50.14% in 2024, but the outlook is positive 19.10% per year for the next five years.

CLOV Dividends

Clover Health Investments Corp’s next quarterly earnings report is expected to be released around May 07 and May 13.

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

Upon looking at major shareholders, it appears that insiders hold 7.39% of Clover Health Investments Corp shares, and 24.45% of them are in the hands of institutional investors. The stock currently has a share float of 26.40%. Clover Health Investments Corp stock is held by 171 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 7.92% of the shares, which is about 31.43 million shares worth $28.2 million.

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

Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 10.28 million shares worth $9.22 million, making up 2.59% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 9.15 million shares worth around $8.21 million, which represents about 2.30% of the total shares outstanding.