Craig Hallum Initiates Coverage on Clover Health Investments (NASDAQ:CLOV)

Craig Hallum assumed coverage on shares of Clover Health Investments (NASDAQ:CLOV - Free Report) in a research report sent to investors on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $6.00 price objective on the stock.

Separately, UBS Group assumed coverage on Clover Health Investments in a research note on Monday, October 7th. They issued a "neutral" rating and a $4.00 price objective for the company.

Clover Health Investments Stock Performance

Shares of NASDAQ:CLOV traded up $0.09 during midday trading on Tuesday, reaching $3.21. The company had a trading volume of 4,930,844 shares, compared to its average volume of 7,764,992. The company has a fifty day simple moving average of $3.64 and a two-hundred day simple moving average of $2.64. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -15.95 and a beta of 1.94. Clover Health Investments has a 1-year low of $0.61 and a 1-year high of $4.71.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. The firm had revenue of $330.99 million during the quarter, compared to analyst estimates of $347.60 million. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. During the same quarter last year, the business posted ($0.09) EPS. Analysts expect that Clover Health Investments will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Clover Health Investments

Several institutional investors and hedge funds have recently modified their holdings of CLOV. Concurrent Investment Advisors LLC acquired a new stake in Clover Health Investments during the third quarter valued at $28,000. Sigma Planning Corp bought a new stake in shares of Clover Health Investments in the 3rd quarter valued at approximately $29,000. Viewpoint Capital Management LLC increased its holdings in Clover Health Investments by 96.8% in the second quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company's stock worth $38,000 after buying an additional 15,000 shares during the last quarter. Parallax Volatility Advisers L.P. acquired a new stake in Clover Health Investments in the third quarter valued at approximately $38,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Clover Health Investments by 54.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company's stock worth $42,000 after purchasing an additional 12,104 shares during the last quarter. 19.77% of the stock is currently owned by hedge funds and other 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.