Clover Health Investments Corp (NASDAQ:CLOV)’s traded shares stood at 6.01 million during the last session, with the company’s beta value hitting 1.95. At the close of trading, the stock’s price was $3.16, to imply a decrease of -2.77% or -$0.09 in intraday trading. The CLOV share’s 52-week high remains $4.71, putting it -49.05% down since that peak but still an impressive 80.7% since price per share fell to its 52-week low of $0.61. The company has a valuation of $1.58B, with an average of 9.99 million shares in intraday trading volume over the past 10 days and average of 9.87 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 -0.07.
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Clover Health Investments Corp (NASDAQ:CLOV) trade information
After registering a -2.77% downside 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 -27.36%, and -23.49% over 30 days. With these gigs, the year-to-date price performance is 231.90%. Short interest in Clover Health Investments Corp (NASDAQ:CLOV) saw shorts transact 18.33 million shares and set a 2.08 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 20.89% off suggested target high and 43.04% 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 233.76% up over the last 6 months, with its year-to-date growth rate higher than industry average at 70.73% against 25.60%. The rating firms project that company’s revenue will shrink -32.00% compared to the previous financial year.
Revenue forecast for the current quarter as set by 3 analysts is 344.4M. Meanwhile, for the current quarter, a total of 3 analyst(s) estimate revenue growth to 395.48M.Earnings reports from the last fiscal year show that sales brought in 510.25M and 346.92M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -32.50% before jumping 14.00% 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 73.31% 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 December. 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 5.35% of total outstanding shares, with institutional holders owning 19.21% of the shares at 20.29% float percentage. In total, 19.21% 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.
