Clover Health Investments Corp. [NASDAQ: CLOV] stock went on a downward path that fall over -7.26% on Wednesday, amounting to a one-week price decrease of less than -12.34%. The company report on March 25, 2021 that FINAL DEADLINE IMMINENT: The Schall Law Firm Announces That A Class Action Lawsuit Has Been Filed Against Clover Health Investments, Corp. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm.
The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class-action lawsuit against Clover Health Investments, Corp. f
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Investors who purchased or otherwise acquired publicly traded Clover securities between October 6, 2020 and February 4, 2021, inclusive (the “Class Period”); and/or purchased or otherwise acquired Clover securities pursuant or traceable to the registration statement and prospectus issued in connection with the December 2020 Merger of Clover and Social Capital III, are encouraged to contact the firm before April 6, 2021.
The one-year Clover Health Investments Corp. stock forecast points to a potential upside of 39.46. The average equity rating for CLOV stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.09 billion, with 103.50 million shares outstanding and 86.67 million shares in the current float. Compared to the average trading volume of 17.56M shares, CLOV stock reached a trading volume of 8818859 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Clover Health Investments Corp. [CLOV]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CLOV shares is $12.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CLOV stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Credit Suisse have made an estimate for Clover Health Investments Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 09, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on February 02, 2021, representing the official price target for Clover Health Investments Corp. stock. Previously, the target price had yet another raise to $15, while JP Morgan analysts kept a Neutral rating on CLOV stock.
The Average True Range (ATR) for Clover Health Investments Corp. is set at 0.79, with the Price to Sales ratio for CLOV stock in the period of the last 12 months amounting to 4.47. The Price to Book ratio for the last quarter was 0.99, with the Price to Cash per share for the same quarter was set at 0.00.
CLOV Stock Performance Analysis:
Clover Health Investments Corp. [CLOV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.34. With this latest performance, CLOV shares dropped by -24.28% in over the last four-week period, additionally sinking by -36.08% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CLOV stock in for the last two-week period is set at 35.31, with the RSI for the last a single of trading hit 33.24, and the three-weeks RSI is set at 36.93 for Clover Health Investments Corp. [CLOV]. The present Moving Average for the last 50 days of trading for this stock 11.17, while it was recorded at 8.34 for the last single week of trading.
Insight into Clover Health Investments Corp. Fundamentals:
Reflecting on the efficiency of the workforce at the company, Clover Health Investments Corp. [CLOV] managed to generate an average of -$4,408 per employee.Clover Health Investments Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.
Clover Health Investments Corp. [CLOV] Insider Position Details
There are presently around $139 million, or 13.60% of CLOV stock, in the hands of institutional investors. The top three institutional holders of CLOV stocks are: SUSQUEHANNA INTERNATIONAL GROUP, LLP with ownership of 2,147,623, which is approximately New of the company’s market cap and around 0.30% of the total institutional ownership; GROUP ONE TRADING, L.P., holding 1,915,441 shares of the stock with an approximate value of $14.69 million in CLOV stocks shares; and ALYESKA INVESTMENT GROUP, L.P., currently with $13.69 million in CLOV stock with ownership of nearly 156.643% of the company’s market capitalization.
Positions in Clover Health Investments Corp. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 79 institutional holders increased their position in Clover Health Investments Corp. [NASDAQ:CLOV] by around 14,187,911 shares. Additionally, 79 investors decreased positions by around 46,838,430 shares, while 1 investors held positions by with 42,915,098 shares. The mentioned changes placed institutional holdings at 18,111,243 shares, according to the latest SEC report filing. CLOV stock had 67 new institutional investments in for a total of 12,014,953 shares, while 66 institutional investors sold positions of 33,969,301 shares during the same period.