During the recent session, Clover Health Investments Corp (NASDAQ:CLOV)’s traded shares were 4.76 million, with the beta value of the company hitting 2.11. At the last check today, the stock’s price was $3.02, reflecting an intraday loss of -2.70% or -$0.08. The 52-week high for the CLOV share is $3.82, that puts it down -26.49 from that peak though still a striking 79.8% gain since the share price plummeted to a 52-week low of $0.61. The company’s market capitalization is $1.50B, and the average intraday trading volume over the past 10 days was 14.77 million shares, and the average trade volume was 6.93 million shares over the past three months.
Clover Health Investments Corp (CLOV) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 2.33. CLOV has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.04.
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Clover Health Investments Corp (NASDAQ:CLOV) trade information
Clover Health Investments Corp (CLOV) registered a -2.70% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.70% in intraday trading to $3.02, hitting a weekly high. The stock’s 5-day price performance is -10.23%, and it has moved by 57.92% in 30 days. Based on these gigs, the overall price performance for the year is 120.16%. The short interest in Clover Health Investments Corp (NASDAQ:CLOV) is 29.36 million shares and it means that shorts have 4.53 day(s) to cover.
The consensus price target of analysts on Wall Street is $2.15, which implies a decrease of -40.47% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.8 and $2.5 respectively. As a result, CLOV is trading at a premium of 17.22% off the target high and 40.4% off the low.
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 up 249.14% during the last six months, with a year-to-date growth rate more than the industry average at 68.29% against 21.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 55.60% this quarter and then jump 57.10% in the quarter after that. In the rating firms’ projections, revenue will decrease -31.90% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 341.42M as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to 340.36M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 482.07M and 510.25M respectively. In this case, analysts expect current quarter sales to shrink by -29.20% and then drop by -33.30% 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 71.11% 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 on 2024-Nov-04. 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 9.10% of total outstanding shares while institutional holders control 18.55%, with the float percentage being 20.41%. VANGUARD GROUP INC is the largest shareholder of the company, while 147.0 institutions own stock in it. As of 2024-06-30, the company held over 17.35 million shares (or 3.5662% of all shares), a total value of $21.33 million in shares.
The next largest institutional holding, with 11.27 million shares, is of RENAISSANCE TECHNOLOGIES LLC’s that is approximately 2.3176% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $13.86 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 Extended Market Index Fund . Data provided on Mar 31, 2024 indicates that Vanguard Total Stock Market Index Fund owns about 10.3 shares. This amounts to just over 2.52 percent of the company’s overall shares, with a $31.3 million market value. The same data shows that the other fund manager holds slightly less at 5.32, or about 1.30% of the stock, which is worth about $16.16 million.
