Clover Health Investments Corp. [NASDAQ: CLOV] plunged by -$0.57 during the normal trading session on Friday and reaching a high of $8.44 during the day while it closed the day at $8.05. The company report on July 23, 2021 that Clover Health Joins NCQA for New Quality Innovation Series.
Clover Health (Nasdaq: CLOV) (“Clover”), an innovative technology company committed to improving health equity for America’s underserved seniors, announced its sponsorship of the 2021 Quality Innovation Series.
The National Committee for Quality Assurance (NCQA) is bringing together leaders in healthcare to present the Quality Innovation Series once again. This virtual series will gather leaders who develop measures, write standards and help shape healthcare quality, in an effort to help move healthcare quality and equity forward through seminars, talks and panels. Sessions will include NCQA leadership, health plans, providers and others sharing best practices in healthcare. The Quality Innovation Series kicked off on June 17th and will continue with weekly live sessions through November 18th.
Clover Health Investments Corp. stock has also loss -1.83% of its value over the past 7 days. However, CLOV stock has declined by -8.21% in the 3 months of the year. Over the past six months meanwhile, it has lost -40.59% and lost -52.00% year-on date.
The market cap for CLOV stock reached $3.52 billion, with 376.17 million shares outstanding and 111.83 million shares in the current float. Compared to the average trading volume of 55.16M shares, CLOV reached a trading volume of 27906745 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 1.00, with the Price to Sales ratio for CLOV stock in the period of the last 12 months amounting to 17.56. The Price to Book ratio for the last quarter was 5.16, with the Price to Cash per share for the same quarter was set at 1.57.
CLOV stock trade performance evaluation
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 -1.83. With this latest performance, CLOV shares dropped by -41.79% in over the last four-week period, additionally sinking by -40.59% over the last 6 months – not to mention a drop of -26.95% 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 37.38, with the RSI for the last a single of trading hit 31.35, and the three-weeks RSI is set at 41.51 for Clover Health Investments Corp. [CLOV]. The present Moving Average for the last 50 days of trading for this stock 10.38, while it was recorded at 8.44 for the last single week of trading, and 10.59 for the last 200 days.
Clover Health Investments Corp. [CLOV]: An insightful look at the core fundamentals
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.
Earnings per share (EPS) analysis for Clover Health Investments Corp. [CLOV] stock
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 Ownership positions
There are presently around $1,255 million, or 95.00% 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 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 26,185,529 shares of the stock with an approximate value of $210.79 million in CLOV stocks shares; and BAILLIE GIFFORD & CO, currently with $41.4 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 August and at the time of the August reporting period, where 105 institutional holders increased their position in Clover Health Investments Corp. [NASDAQ:CLOV] by around 150,697,078 shares. Additionally, 69 investors decreased positions by around 12,297,107 shares, while 12 investors held positions by with 7,039,101 shares. The mentioned changes placed institutional holdings at 155,955,084 shares, according to the latest SEC report filing. CLOV stock had 88 new institutional investments in for a total of 148,699,251 shares, while 52 institutional investors sold positions of 9,337,051 shares during the same period.