Clover Health Investments (NASDAQ:CLOV) Announces Quarterly Earnings Results, Misses Expectations By $0.05 EPS

by · The Markets Daily

Clover Health Investments (NASDAQ:CLOV – Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05), Zacks reports. Clover Health Investments had a negative return on equity of 16.79% and a negative net margin of 3.29%.

Clover Health Investments Stock Performance

Shares of Clover Health Investments stock traded up $0.06 during trading on Thursday, hitting $2.15. The company’s stock had a trading volume of 8,198,815 shares, compared to its average volume of 6,021,020. Clover Health Investments has a 52 week low of $1.94 and a 52 week high of $4.52. The company has a market capitalization of $1.11 billion, a PE ratio of -19.55 and a beta of 2.09. The company has a fifty day simple moving average of $2.35 and a two-hundred day simple moving average of $2.64.

Wall Street Analyst Weigh In

CLOV has been the subject of several analyst reports. Canaccord Genuity Group reissued a “buy” rating and set a $3.70 price target on shares of Clover Health Investments in a research report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday, December 29th. Zacks Research downgraded Clover Health Investments from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Finally, Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.23.

Read Our Latest Research Report on CLOV

Hedge Funds Weigh In On Clover Health Investments

Several large investors have recently made changes to their positions in CLOV. Alliancebernstein L.P. grew its stake in shares of Clover Health Investments by 1.2% in the 3rd quarter. Alliancebernstein L.P. now owns 415,985 shares of the company’s stock worth $1,273,000 after buying an additional 5,085 shares during the last quarter. Allworth Financial LP boosted its holdings in Clover Health Investments by 218.9% in the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock worth $29,000 after acquiring an additional 6,527 shares in the last quarter. Verition Fund Management LLC boosted its holdings in Clover Health Investments by 11.3% in the fourth quarter. Verition Fund Management LLC now owns 65,777 shares of the company’s stock worth $155,000 after acquiring an additional 6,677 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Clover Health Investments in the first quarter worth $37,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Clover Health Investments during the second quarter valued at $31,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Clover Health Investments Company Profile

(Get Free Report)

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.

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