Clover Health Investments (NASDAQ:CLOV) Earns Neutral Rating from Analysts at UBS Group

UBS Group began coverage on shares of Clover Health Investments (NASDAQ:CLOV) in a research note released on Monday, Marketbeat.com reports. The firm issued a neutral rating and a $4.00 price objective on the stock.

Clover Health Investments Price Performance

Clover Health Investments stock opened at $3.91 on Monday. The firm’s 50 day moving average price is $2.77 and its 200-day moving average price is $1.65. Clover Health Investments has a 1 year low of $0.61 and a 1 year high of $4.28. The stock has a market cap of $1.94 billion, a P/E ratio of -11.50 and a beta of 2.13.

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

Institutional Investors Weigh In On Clover Health Investments

Hedge funds have recently bought and sold shares of the business. Viewpoint Capital Management LLC raised its position in Clover Health Investments by 96.8% during the second quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock valued at $38,000 after purchasing an additional 15,000 shares during the period. Jaffetilchin Investment Partners LLC raised its holdings in Clover Health Investments by 30.2% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock valued at $39,000 after buying an additional 11,550 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Clover Health Investments by 54.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock worth $42,000 after buying an additional 12,104 shares during the last quarter. Marshall Wace LLP bought a new position in Clover Health Investments during the second quarter valued at $55,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Clover Health Investments by 151.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 77,948 shares of the company’s stock valued at $62,000 after acquiring an additional 46,912 shares during the period. Hedge funds and other institutional investors own 19.77% of the company’s stock.

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.