Clover Health Investments Corp. [CLOV] stock Downgrade by JP Morgan analyst, price target now $9

Clover Health Investments Corp. [NASDAQ: CLOV] loss -2.58% or -0.23 points to close at $8.68 with a heavy trading volume of 26018064 shares. The company report on July 9, 2021 that Clover Health Expands Management Team, Appointing Prabhdeep Singh as Chief Growth Officer and Justin Joseph as Chief Strategy & Development Officer.

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, Clover Health (Nasdaq: CLOV) (“Clover”), an innovative technology company committed to improving health equity for America’s underserved seniors, announced the hiring of two key leaders: Prabhdeep Singh as Chief Growth Officer, and Justin Joseph as Chief Strategy & Development Officer.

A former executive at WeWork and Uber, Singh will lead Clover’s member growth and expansion of service areas. Most recently, as WeWork’s Executive Vice President and Global Head of Marketplace, he was responsible for building and leading the company’s strategy for its digital platform and emerging products and services. Prior to this, Mr. Singh was a General Manager at Uber Eats, where he helped transform and scale it from a concept to a multi-billion dollar business. Specifically, he developed and led the Uber Eats Enterprise business and strategy focused on acquiring, growing, and managing some of the largest restaurant partners in the world, which has helped him develop deep experience in driving growth and expansion.

It opened the trading session at $8.945, the shares rose to $9.25 and dropped to $8.57, the range by which the price of stock traded the whole day. The daily chart for CLOV points out that the company has recorded -40.63% loss over the past six months. However, it is still -37.56% lower than its most recent low trading price.

If we look at the average trading volume of 61.23M shares, CLOV reached to a volume of 26018064 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 $9.50 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 3.30. 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.

JP Morgan have made an estimate for Clover Health Investments Corp. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on July 12, 2021. The new note on the price target was released on June 10, 2021, representing the official price target for Clover Health Investments Corp. stock. Previously, the target price had yet another drop from $15 to $9, while BofA Securities kept a Neutral rating on CLOV stock.

The Average True Range (ATR) for Clover Health Investments Corp. is set at 1.89, with the Price to Sales ratio for CLOV stock in the period of the last 12 months amounting to 17.86. The Price to Book ratio for the last quarter was 5.56, with the Price to Cash per share for the same quarter was set at 1.66.

Trading performance analysis for CLOV stock

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 -10.70. With this latest performance, CLOV shares dropped by -40.79% in over the last four-week period, additionally sinking by -40.63% over the last 6 months – not to mention a drop of -20.88% in the past year of trading.

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 38.36, with the RSI for the last a single of trading hit 30.26, and the three-weeks RSI is set at 42.73 for Clover Health Investments Corp. [CLOV]. The present Moving Average for the last 50 days of trading for this stock 10.39, while it was recorded at 9.18 for the last single week of trading, and 10.74 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Clover Health Investments Corp. [CLOV] shares currently have an operating margin of -5752.28. Clover Health Investments Corp.’s Net Margin is presently recorded at -5752.28.

Return on Total Capital for CLOV is now -1.70, given the latest momentum, and Return on Invested Capital for the company is -1.70. Return on Equity for this stock declined to -1.70, with Return on Assets sitting at -1.57. When it comes to the capital structure of this company, Clover Health Investments Corp. [CLOV] has a Total Debt to Total Equity ratio set at 0.10. Additionally, CLOV Total Debt to Total Capital is recorded at 0.10, with Total Debt to Total Assets ending up at 0.09.

Reflecting on the efficiency of the workforce at the company, Clover Health Investments Corp. [CLOV] managed to generate an average of -$14,727 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.

Clover Health Investments Corp. [CLOV]: An earnings per share (EPS) analysis

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%.

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

There are presently around $1,353 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 24.40% of the total institutional ownership; VANGUARD GROUP INC, holding 26,185,529 shares of the stock with an approximate value of $227.29 million in CLOV stocks shares; and BAILLIE GIFFORD & CO, currently with $44.63 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 August and at the time of the August reporting period, where 111 institutional holders increased their position in Clover Health Investments Corp. [NASDAQ:CLOV] by around 150,665,628 shares. Additionally, 66 investors decreased positions by around 12,679,098 shares, while 10 investors held positions by with 7,415,392 shares. The mentioned changes placed institutional holdings at 155,929,334 shares, according to the latest SEC report filing. CLOV stock had 94 new institutional investments in for a total of 148,705,875 shares, while 50 institutional investors sold positions of 9,687,610 shares during the same period.

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