In the last trading session, 8.24 million Clover Health Investments Corp (NASDAQ:CLOV) shares changed hands as the company’s beta touched 2.14. With the company’s per share price at $4.00 changed hands at -$0.18 or -4.31% during last session, the market valuation stood at $1.99B. CLOV’s last price was a discount, traded about -17.75% off its 52-week high of $4.71. The share price had its 52-week low at $0.61, which suggests the last value was 84.75% up since then. When we look at Clover Health Investments Corp’s average trading volume, we note the 10-day average is 8.44 million shares, with the 3-month average coming to 8.94 million.
Analysts gave the Clover Health Investments Corp (CLOV) stock a consensus recommendation rating of Hold, calculated at a mean rating of 2.33. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended CLOV as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Clover Health Investments Corp’s EPS for the current quarter is expected to be -0.04.
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Clover Health Investments Corp (NASDAQ:CLOV) trade information
Instantly CLOV was in red as seen at the end of in last trading. With action -1.72%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 320.12%, with the 5-day performance at -1.72% in the red. However, in the 30-day time frame, Clover Health Investments Corp (NASDAQ:CLOV) is 32.01% up. Looking at the short shares, we see there were 25.51 million shares sold at short interest cover period of 3.53 days.
The consensus price target for the stock as assigned by Wall Street analysts is 2.15, meaning bulls need a downside of -86.05% from its current market value. According to analyst projections, CLOV’s forecast low is 1.8 with 2.5 as the target high. To hit the forecast high, the stock’s price needs a 37.5% surge from its current level, while the stock would need to tank 55.0% for it to hit the projected low.
Clover Health Investments Corp (CLOV) estimates and forecasts
Data shows that the Clover Health Investments Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 529.33% over the past 6 months, a 68.29% in annual growth rate that is considerably higher than the industry average of 23.90%. Year-over-year growth is forecast to reach -31.40% down from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of 346.7M. 2 analysts are of the opinion that Clover Health Investments Corp’s revenue for the current quarter will be 344.64M. The company’s revenue for the corresponding quarters a year ago was 482.07M and 510.25M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -28.10%. The estimates for the next quarter sales put growth at -32.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -585.84%. The 2024 estimates are for Clover Health Investments Corp earnings to increase by 68.85%, but the outlook for the next 5-year period is at 19.10% per year.
CLOV Dividends
Clover Health Investments Corp is expected to release its next quarterly earnings report on 2024-Nov-04.
Clover Health Investments Corp (NASDAQ:CLOV)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 4.44% of Clover Health Investments Corp shares while 18.20% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 19.05%. There are 18.20% institutions holding the Clover Health Investments Corp stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 3.5662% of the shares, roughly 17.35 million CLOV shares worth $21.33 million.
RENAISSANCE TECHNOLOGIES LLC holds the second largest percentage of outstanding shares, with 2.3176% or 11.27 million shares worth $13.86 million as of 2024-06-30.
Among Mutual Funds, the top two as of Jun 30, 2024 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund . With 10.03 shares estimated at $40.13 million under it, the former controlled 2.46% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 1.35% of the shares, roughly 5.49 shares worth around $21.97 million.
