Clover Health Investments Corp. [NASDAQ: CLOV] price surged by 4.81 percent to reach at $0.69. The company report on June 10, 2021 that Upward Health Announces Contract with Clover Health to Serve Patients In Four States Under New Direct Contracting Initiative.
Upward Health, a leading in-home medical and behavioral primary care provider, announced a new Preferred Provider relationship with Clover Health, an innovative technology company improving health outcomes for America’s seniors, to serve patients with complex medical, behavioral, and social challenges through Clover’s in-home primary care program, Clover Home Care. The effort was launched shortly after Clover was identified as a participant in CMS’ new Direct Contracting initiative, which is designed to improve healthcare quality and contain costs for beneficiaries with Original Medicare.
As Clover scales Clover Home Care through Direct Contracting, the company has contracted with Upward Health to provide integrated home-based medical and behavioral care for aligned beneficiaries with complex needs in the States of New York, Pennsylvania, Georgia, and Texas.
A sum of 142314378 shares traded at recent session while its average daily volume was at 43.52M shares. Clover Health Investments Corp. shares reached a high of $16.26 and dropped to a low of $13.43 until finishing in the latest session at $15.03.
The one-year CLOV stock forecast points to a potential downside of -55.43. The average equity rating for CLOV stock is currently 2.50, trading closer to a bullish pattern in the stock market.
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 $9.67 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 2.50. 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 Underperform, with their previous recommendation back on June 10, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price from $15 to $9. The new note on the price target was released on May 17, 2021, representing the official price target for Clover Health Investments Corp. stock. Previously, the target price had yet another raise to $10, while Credit Suisse analysts kept a Neutral rating on CLOV stock.
The Average True Range (ATR) for Clover Health Investments Corp. is set at 2.63, with the Price to Sales ratio for CLOV stock in the period of the last 12 months amounting to 29.22. The Price to Book ratio for the last quarter was 9.63, with the Price to Cash per share for the same quarter was set at 1.76.
CLOV Stock Performance Analysis:
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 67.00. With this latest performance, CLOV shares gained by 93.19% in over the last four-week period, additionally plugging by 33.36% 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 61.50, with the RSI for the last a single of trading hit 61.05, and the three-weeks RSI is set at 60.90 for Clover Health Investments Corp. [CLOV]. The present Moving Average for the last 50 days of trading for this stock 8.98, while it was recorded at 16.07 for the last single week of trading, and 10.69 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 4.70 and a Current Ratio set at 4.70.
CLOV Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CLOV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Clover Health Investments Corp. go to 32.00%.
Clover Health Investments Corp. [CLOV] Insider Position Details
There are presently around $2,346 million, 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 $393.57 million in CLOV stocks shares; and BAILLIE GIFFORD & CO, currently with $77.29 million in CLOV stock with ownership of nearly New of the company’s market capitalization.
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 110 institutional holders increased their position in Clover Health Investments Corp. [NASDAQ:CLOV] by around 150,783,266 shares. Additionally, 62 investors decreased positions by around 12,653,849 shares, while 12 investors held positions by with 7,371,756 shares. The mentioned changes placed institutional holdings at 156,065,359 shares, according to the latest SEC report filing. CLOV stock had 92 new institutional investments in for a total of 148,822,513 shares, while 49 institutional investors sold positions of 9,687,852 shares during the same period.