Clover Health Investments Corp (NASDAQ:CLOV) has a beta value of 2.14 and has seen 3.74 million shares traded in the last trading session. The company, currently valued at $1.44B, closed the last trade at $2.90 per share which meant it lost -$0.01 on the day or -0.34% during that session. The CLOV stock price is -31.72% off its 52-week high price of $3.82 and 78.97% above the 52-week low of $0.61. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.73 million shares traded. The 3-month trading volume is 7.76 million shares.
The consensus among analysts is that Clover Health Investments Corp (CLOV) is Hold stock at the moment, with a recommendation rating of 2.33. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 1 have rated it as a Hold, with 0 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.04.
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Clover Health Investments Corp (NASDAQ:CLOV) trade information
Sporting -0.34% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the CLOV stock price touched $2.90 or saw a rise of 9.38%. Year-to-date, Clover Health Investments Corp shares have moved 204.59%, while the 5-day performance has seen it change -5.23%. Over the past 30 days, the shares of Clover Health Investments Corp (NASDAQ:CLOV) have changed -13.69%. Short interest in the company has seen 20.09 million shares shorted with days to cover at 1.77.
Wall Street analysts have a consensus price target for the stock at $2.15, which means that the shares’ value could drop -34.88% from current levels. The projected low price target is $1.8 while the price target rests at a high of $2.5. In that case, then, we find that the current price level is 13.79% off the targeted high while a plunge would see the stock lose 37.93% from current levels.
Clover Health Investments Corp (CLOV) estimates and forecasts
Figures show that Clover Health Investments Corp shares have outperformed across the wider relevant industry. The company’s shares have gained 253.14% over the past 6 months, with this year growth rate of 68.29%, compared to 22.30% for the industry. Revenue growth from the last financial year stood is estimated to be -31.90%.
3 analysts offering their estimates for the company have set an average revenue estimate of 341.42M for the current quarter. 3 have an estimated revenue figure of 340.36M for the next ending quarter. Year-ago sales stood 482.07M and 510.25M respectively for this quarter and the next, and analysts expect sales will shrink by -29.20% for the current quarter and -31.90% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -585.84% over the past 5 years. Earnings growth for 2024 is a modest 71.35% while over the next 5 years, the company’s earnings are expected to increase by 19.10%.
CLOV Dividends
Clover Health Investments Corp is expected to release its next earnings report in October this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Clover Health Investments Corp (NASDAQ:CLOV)’s Major holders
Insiders own 9.13% of the company shares, while shares held by institutions stand at 18.59% with a share float percentage of 20.46%. Investors are also buoyed by the number of investors in a company, with Clover Health Investments Corp having a total of 149.0 institutions that hold shares in the company. The top two institutional holders are VANGUARD GROUP INC with over 17.35 million shares worth more than $21.33 million. As of 2024-06-30, VANGUARD GROUP INC held 3.5662% of shares outstanding.
The other major institutional holder is RENAISSANCE TECHNOLOGIES LLC, with the holding of over 11.27 million shares as of 2024-06-30. The firm’s total holdings are worth over $13.86 million and represent 2.3176% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund . As of Jun 30, 2024 , the former fund manager holds about 2.46% shares in the company for having 10.03 shares of worth $29.1 million while later fund manager owns 5.49 shares of worth $15.93 million as of Jun 30, 2024 , which makes it owner of about 1.35% of company’s outstanding stock.
