Investing In Clover Health Investments Corp (NASDAQ: CLOV) Does Not Require High Risk Tolerance

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During the last session, Clover Health Investments Corp (NASDAQ:CLOV)’s traded shares were 7.62 million, with the beta value of the company hitting 1.85. At the end of the trading day, the stock’s price was $0.76, reflecting an intraday gain of 2.67% or $0.02. The 52-week high for the CLOV share is $1.63, that puts it down -114.47 from that peak though still a striking 6.58% gain since the share price plummeted to a 52-week low of $0.71. The company’s market capitalization is $373.44M, and the average intraday trading volume over the past 10 days was 8.24 million shares, and the average trade volume was 9.43 million shares over the past three months.

Clover Health Investments Corp (NASDAQ:CLOV) trade information

Clover Health Investments Corp (CLOV) registered a 2.67% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 2.67% in intraday trading to $0.76, hitting a weekly high. The stock’s 5-day price performance is -3.07%, and it has moved by -10.44% in 30 days. Based on these gigs, the overall price performance for the year is -10.46%. The short interest in Clover Health Investments Corp (NASDAQ:CLOV) is 47.54 million shares and it means that shorts have 3.45 day(s) to cover.

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Clover Health Investments Corp (CLOV) estimates and forecasts

Statistics show that Clover Health Investments Corp has outperformed its competitors in share price, compared to the industry in which it operates. Clover Health Investments Corp (CLOV) shares have gone down -29.94% during the last six months, with a year-to-date growth rate more than the industry average at 51.22% against 22.10. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 53.30% this quarter and then jump 33.30% in the quarter after that. In the rating firms’ projections, revenue will decrease -37.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $321.23 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $321.13 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $527.77 million and $513.63 million respectively. In this case, analysts expect current quarter sales to shrink by -39.10% and then drop by -37.50% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -585.84%. While earnings are projected to return 50.14% in 2024, the next five years will return 19.10% per annum.

CLOV Dividends

Clover Health Investments Corp is due to release its next quarterly earnings between May 07 and May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Clover Health Investments Corp insiders own 7.39% of total outstanding shares while institutional holders control 24.45%, with the float percentage being 26.40%. Vanguard Group Inc is the largest shareholder of the company, while 171 institutions own stock in it. As of Jun 29, 2023, the company held over 31.43 million shares (or 7.92% of all shares), a total value of $28.2 million in shares.

The next largest institutional holding, with 8.85 million shares, is of Renaissance Technologies, LLC’s that is approximately 2.23% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $7.94 million.

Also, the Mutual Funds coming in first place with the largest holdings of Clover Health Investments Corp (CLOV) shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 10.28 million shares. This amounts to just over 2.59 percent of the company’s overall shares, with a $9.22 million market value. The same data shows that the other fund manager holds slightly less at 9.15 million, or about 2.30% of the stock, which is worth about $8.21 million.