Credit Suisse slashes price target on Clover Health Investments Corp. [CLOV] – find out why.

Clover Health Investments Corp. [NASDAQ: CLOV] gained 9.64% or 0.85 points to close at $9.67 with a heavy trading volume of 235880691 shares. The company report on April 15, 2021 that Demetrios Kouzoukas, Former Director of the Center for Medicare and Principal Deputy Administrator of CMS, Joins Board of Clover Health.

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Clover Health Investments, Corp. (Nasdaq: CLOV) (“Clover”), an innovative technology company improving health outcomes for America’s seniors, announced Demetrios L. Kouzakas has joined its Board of Directors and will serve as a member of the Audit Committee.

“Clover and the U.S. government have a shared mission of supporting the health of Medicare beneficiaries and making every tax dollar as impactful as possible,” said Chief Executive Officer Vivek Garipalli. “Demetrios is a significant addition to the Board. Having led the legal and regulatory affairs department of the Medicare division at UnitedHealth, he understands the opportunity and challenge of operating at scale. He has an encyclopedic knowledge of Medicare rules and regulations, combined with an incredibly astute business and strategy acumen. We are grateful that Demetrios is joining us on this very important journey.”.

It opened the trading session at $9.62, the shares rose to $10.57 and dropped to $9.17, the range by which the price of stock traded the whole day. The daily chart for CLOV points out that the company has recorded -7.64% loss over the past six months. However, it is still -53.25% lower than its most recent low trading price.

If we look at the average trading volume of 20.26M shares, CLOV reached to a volume of 235880691 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 0.85, with the Price to Sales ratio for CLOV stock in the period of the last 12 months amounting to 4.75. The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 0.08.

Trading performance analysis for CLOV stock

Clover Health Investments Corp. [CLOV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.66. With this latest performance, CLOV shares gained by 14.17% in over the last four-week period, additionally sinking by -7.64% 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 60.54, with the RSI for the last a single of trading hit 68.35, and the three-weeks RSI is set at 55.09 for Clover Health Investments Corp. [CLOV]. The present Moving Average for the last 50 days of trading for this stock 9.11, while it was recorded at 8.21 for the last single week of trading, and 10.97 for the last 200 days.

Clover Health Investments Corp. [CLOV]: A deeper dive into fundamental analysis

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 0.80 and a Current Ratio set at 0.80.

An analysis of insider ownership at Clover Health Investments Corp. [CLOV]

There are presently around $175 million, or 13.10% 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 $18.52 million in CLOV stocks shares; and ALYESKA INVESTMENT GROUP, L.P., currently with $17.26 million in CLOV stock with ownership of nearly 156.643% of the company’s market capitalization.

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Positions in Clover Health Investments Corp. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 78 institutional holders increased their position in Clover Health Investments Corp. [NASDAQ:CLOV] by around 14,157,822 shares. Additionally, 81 investors decreased positions by around 46,751,492 shares, while 4 investors held positions by with 42,786,103 shares. The mentioned changes placed institutional holdings at 18,123,211 shares, according to the latest SEC report filing. CLOV stock had 64 new institutional investments in for a total of 11,977,764 shares, while 68 institutional investors sold positions of 33,882,363 shares during the same period.

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