Clover Health Investments (NASDAQ:CLOV) Hits New 1-Year Low – Should You Sell?

Clover Health Investments, Corp. (NASDAQ:CLOV)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $2.02 and last traded at $2.0450, with a volume of 450221 shares traded. The stock had previously closed at $2.05.

Analyst Ratings Changes

CLOV has been the subject of several recent research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $3.70 price target on shares of Clover Health Investments in a research report on Tuesday, January 20th. Wall Street Zen lowered Clover Health Investments from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Zacks Research cut Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Monday, December 29th. Finally, Leerink Partners set a $3.00 price objective on shares of Clover Health Investments and gave the company a “market perform” rating in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.23.

Clover Health Investments Stock Performance

The stock has a market cap of $1.04 billion, a P/E ratio of -18.36 and a beta of 2.09. The stock has a 50-day moving average price of $2.45 and a 200-day moving average price of $2.67.

Hedge Funds Weigh In On Clover Health Investments

A number of institutional investors have recently made changes to their positions in the stock. Clarity Wealth Advisors LLC bought a new stake in shares of Clover Health Investments during the 2nd quarter worth $28,000. Allworth Financial LP raised its position in Clover Health Investments by 218.9% during the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after purchasing an additional 6,527 shares in the last quarter. Alteri Wealth LLC purchased a new stake in Clover Health Investments during the second quarter valued at about $30,000. Envestnet Asset Management Inc. bought a new stake in Clover Health Investments during the second quarter worth about $31,000. Finally, Lido Advisors LLC purchased a new position in shares of Clover Health Investments in the 2nd quarter worth about $32,000. Institutional investors own 19.77% of the company’s stock.

About Clover Health Investments

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.