Clover Health Investments Corp (NASDAQ:CLOV)’s traded shares stood at 25.79 million during the last session, with the company’s beta value hitting 2.14. At the close of trading, the stock’s price was $3.59, to imply an increase of 29.14% or $0.81 in intraday trading. The CLOV share’s 52-week high remains $3.82, putting it -6.41% down since that peak but still an impressive 83.01% since price per share fell to its 52-week low of $0.61. The company has a valuation of $1.79B, with an average of 7.42 million shares in intraday trading volume over the past 10 days and average of 7.51 million shares over the past 3 months.
Analysts have given a consensus recommendation of Hold for Clover Health Investments Corp (CLOV), translating to a mean rating of 2.33. Of 1 analyst(s) looking at the stock, 0 analyst(s) give CLOV a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 0 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -0.04.
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Clover Health Investments Corp (NASDAQ:CLOV) trade information
After registering a 29.14% upside in the last session, Clover Health Investments Corp (CLOV) has traded red over the past five days. The 5-day price performance for the stock is 24.22%, and 43.60% over 30 days. With these gigs, the year-to-date price performance is 277.06%. Short interest in Clover Health Investments Corp (NASDAQ:CLOV) saw shorts transact 25.8 million shares and set a 2.1 days time to cover.
The extremes give us $1.8 and $2.5 for target low and target high price respectively. As such, CLOV has been trading 30.36% off suggested target high and 49.86% from its likely low.
Clover Health Investments Corp (CLOV) estimates and forecasts
Looking at statistics comparing Clover Health Investments Corp share performance against respective industry, we note that the company has outperformed competitors. Clover Health Investments Corp (CLOV) shares are 374.43% up over the last 6 months, with its year-to-date growth rate higher than industry average at 68.29% against 23.00%. Revenue is forecast to grow 55.60% this quarter before jumping 57.10% for the next one. The rating firms project that company’s revenue will shrink -31.90% compared to the previous financial year.
Revenue forecast for the current quarter as set by 3 analysts is 341.42M. Meanwhile, for the current quarter, a total of 3 analyst(s) estimate revenue growth to 340.36M.Earnings reports from the last fiscal year show that sales brought in 482.07M and 510.25M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -29.20% before dropping -33.30% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -585.84% for the past 5-year period. While 2024 is set for a 71.35% return in earnings, projections for the next 5 years are at 19.10% annually.
CLOV Dividends
Clover Health Investments Corp has its next earnings report out in November. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
Clover Health Investments Corp (NASDAQ:CLOV)’s Major holders
Clover Health Investments Corp insiders hold 4.44% of total outstanding shares, with institutional holders owning 18.11% of the shares at 18.95% float percentage. In total, 18.11% institutions holds shares in the company, led by VANGUARD GROUP INC. As of 2024-06-30, the company held over 17.35 million shares (or 3.5662% of shares), all amounting to roughly $21.33 million.
The next major institution holding the largest number of shares is RENAISSANCE TECHNOLOGIES LLC with 11.27 million shares, or about 2.3176% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $13.86 million.
