Clover Health Investments (NASDAQ:CLOV) Hits New 52-Week High – Still a Buy?

Clover Health Investments, Corp. (NASDAQ:CLOV) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $4.28 and last traded at $4.26, with a volume of 6755440 shares traded. The stock had previously closed at $4.13.

Analyst Ratings Changes

Separately, UBS Group initiated coverage on Clover Health Investments in a report on Monday, October 7th. They issued a “neutral” rating and a $4.00 target price for the company.

Clover Health Investments Trading Down 4.3 %

The stock has a fifty day moving average price of $3.09 and a 200-day moving average price of $1.80. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -11.91 and a beta of 2.13.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings results on Monday, August 5th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $356.26 million for the quarter, compared to analyst estimates of $338.70 million. Clover Health Investments had a negative return on equity of 36.55% and a negative net margin of 7.30%. During the same period in the prior year, the company earned ($0.06) EPS. On average, equities analysts expect that Clover Health Investments, Corp. will post -0.13 EPS for the current year.

Institutional Investors Weigh In On Clover Health Investments

A number of large investors have recently bought and sold shares of CLOV. XTX Topco Ltd bought a new stake in Clover Health Investments during the 2nd quarter worth approximately $932,000. Jupiter Asset Management Ltd. grew its position in Clover Health Investments by 18.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company’s stock worth $3,593,000 after acquiring an additional 692,878 shares during the last quarter. Choreo LLC bought a new stake in Clover Health Investments during the 2nd quarter worth approximately $344,000. Squarepoint Ops LLC grew its position in Clover Health Investments by 220.7% during the 2nd quarter. Squarepoint Ops LLC now owns 130,352 shares of the company’s stock worth $160,000 after acquiring an additional 238,329 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Clover Health Investments during the 1st quarter worth approximately $142,000. 19.77% of the stock is currently owned by institutional investors.

About Clover Health Investments

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.