Clover Health Investments (NASDAQ:CLOV) Price Target Raised to $4.50 at Canaccord Genuity Group

Clover Health Investments (NASDAQ:CLOV - Free Report) had its price target increased by Canaccord Genuity Group from $4.20 to $4.50 in a research report sent to investors on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Separately, Craig Hallum began coverage on shares of Clover Health Investments in a research note on Tuesday, December 17th. They set a "buy" rating and a $6.00 price target on the stock.

Clover Health Investments Stock Down 4.2 %

Shares of NASDAQ CLOV traded down $0.16 during mid-day trading on Monday, hitting $3.67. 8,664,175 shares of the company were exchanged, compared to its average volume of 6,312,964. The stock has a 50 day simple moving average of $4.07 and a 200-day simple moving average of $3.61. Clover Health Investments has a 1-year low of $0.61 and a 1-year high of $4.87. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -18.35 and a beta of 2.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Phoenix Financial Ltd. increased its holdings in shares of Clover Health Investments by 6.8% during the 4th quarter. Phoenix Financial Ltd. now owns 39,000 shares of the company's stock worth $123,000 after buying an additional 2,500 shares during the last quarter. Forum Financial Management LP increased its stake in Clover Health Investments by 33.8% during the third quarter. Forum Financial Management LP now owns 16,077 shares of the company's stock worth $45,000 after acquiring an additional 4,061 shares during the last quarter. Steph & Co. raised its holdings in shares of Clover Health Investments by 33.3% in the 4th quarter. Steph & Co. now owns 20,000 shares of the company's stock worth $63,000 after purchasing an additional 5,000 shares during the period. Parallax Volatility Advisers L.P. lifted its stake in shares of Clover Health Investments by 47.7% in the 4th quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company's stock valued at $63,000 after purchasing an additional 6,408 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Clover Health Investments by 6.3% during the 4th quarter. Arizona State Retirement System now owns 118,265 shares of the company's stock worth $373,000 after purchasing an additional 6,990 shares during the period. 19.77% of the stock is currently owned by institutional investors and hedge funds.

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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.