Clover Health Investments Corp. [CLOV] is -58.44% lower this YTD. Is it still time to buy?

Clover Health Investments Corp. [NASDAQ: CLOV] stock went on an upward path that rose over 2.20% on Tuesday, amounting to a one-week price decrease of less than -14.27%. The company report on May 17, 2021 that Clover Health Reports First Quarter 2021 Financial Results.

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Record Revenue of Over $200 millionLives Under Management Nearly Doubles Following The Launch of Direct Contracting.

Clover Health (Nasdaq: CLOV) (“Clover” or the “Company”), an innovative technology company improving health outcomes for America’s seniors, reported financial results for the first quarter of 2021. Management will host a conference call at 8:30 a.m. ET to discuss its operating results and other business highlights.

The one-year Clover Health Investments Corp. stock forecast points to a potential upside of 44.99. 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 $2.75 billion, with 145.35 million shares outstanding and 107.57 million shares in the current float. Compared to the average trading volume of 23.56M shares, CLOV stock reached a trading volume of 16097437 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.

BofA Securities have made an estimate for Clover Health Investments Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 17, 2021. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on March 09, 2021, representing the official price target for Clover Health Investments Corp. stock. Previously, the target price had yet another raise to $19, while Citigroup analysts kept a Buy rating on CLOV stock.

The Average True Range (ATR) for Clover Health Investments Corp. is set at 0.89, with the Price to Sales ratio for CLOV stock in the period of the last 12 months amounting to 3.99. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 0.07.

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 -14.27. With this latest performance, CLOV shares dropped by -27.92% in over the last four-week period, additionally sinking by -30.09% 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 37.76, with the RSI for the last a single of trading hit 32.51, and the three-weeks RSI is set at 40.49 for Clover Health Investments Corp. [CLOV]. The present Moving Average for the last 50 days of trading for this stock 8.32, while it was recorded at 7.26 for the last single week of trading, and 10.72 for the last 200 days.

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 0.80 and a Current Ratio set at 0.80.

Clover Health Investments Corp. [CLOV] Insider Position Details

There are presently around $1,084 million, or 36.10% of CLOV stock, in the hands of institutional investors. The top three institutional holders of CLOV stocks are: GREENOAKS CAPITAL PARTNERS LLC with ownership of 96,331,338, which is approximately New of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 26,185,529 shares of the stock with an approximate value of $182.51 million in CLOV stocks shares; and BAILLIE GIFFORD & CO, currently with $35.84 million in CLOV stock with ownership of nearly New 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 May and at the time of the May reporting period, where 109 institutional holders increased their position in Clover Health Investments Corp. [NASDAQ:CLOV] by around 150,058,920 shares. Additionally, 62 investors decreased positions by around 12,503,418 shares, while 12 investors held positions by with 7,023,272 shares. The mentioned changes placed institutional holdings at 155,539,066 shares, according to the latest SEC report filing. CLOV stock had 92 new institutional investments in for a total of 148,119,307 shares, while 48 institutional investors sold positions of 9,433,321 shares during the same period.

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