Clover Health Investments Corp. [NASDAQ: CLOV] stock went on a downward path that fall over -0.84% on Tuesday, amounting to a one-week price decrease of less than -23.15%. The company report on September 15, 2021 that Clover Health Investments, Corp. Announces the Results of the Completed Redemption of All Outstanding Warrants.
Clover Health Investments, Corp. (Nasdaq: CLOV), (“Clover Health” or the “Company”), a technology company committed to improving health equity for America’s underserved seniors, announced the results of the completed redemption of all of its outstanding warrants (the “Public Warrants”) to purchase shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), that were issued under the Warrant Agreement, dated April 21, 2020, by and between the Company (f/k/a Social Capital Hedosophia Holdings Corp. III) and Continental Transfer & Trust Company (the “Warrant Agent”), as warrant agent (the “Warrant Agreement”), as part of the units sold in the Company’s initial public offering (the “IPO”), and all of the Company’s outstanding warrants to purchase Common Stock that were issued under the Warrant Agreement in a private placement simultaneously with the IPO (the “Private Warrants and, together with the Public Warrants, the “Warrants”).
On July 22, 2021, the Company issued a press release stating that it would redeem all of its outstanding Warrants that remained outstanding on the redemption date for a redemption price of $0.10 per Warrant. On August 25, 2021, the Company announced that it was extending the period during which the holders of the Public Warrants could exercise such warrants to 5:00 p.m. New York City time on September 9, 2021.
Over the last 12 months, CLOV stock dropped by -29.36%. The one-year Clover Health Investments Corp. stock forecast points to a potential upside of 11.04. The average equity rating for CLOV stock is currently 3.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.69 billion, with 408.16 million shares outstanding and 199.49 million shares in the current float. Compared to the average trading volume of 39.04M shares, CLOV stock reached a trading volume of 15151370 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 $9.33 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 3.70. 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.
Cowen have made an estimate for Clover Health Investments Corp. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on September 10, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on September 02, 2021, representing the official price target for Clover Health Investments Corp. stock. Previously, the target price had yet another raise to $9, while JP Morgan analysts kept a Underweight rating on CLOV stock.
The Average True Range (ATR) for Clover Health Investments Corp. is set at 0.73, with the Price to Sales ratio for CLOV stock in the period of the last 12 months amounting to 6.03. The Price to Book ratio for the last quarter was 10.92, with the Price to Cash per share for the same quarter was set at 1.36.
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 -23.15. With this latest performance, CLOV shares gained by 0.97% in over the last four-week period, additionally sinking by -3.60% over the last 6 months – not to mention a drop of -29.36% 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 45.95, with the RSI for the last a single of trading hit 43.59, and the three-weeks RSI is set at 46.73 for Clover Health Investments Corp. [CLOV]. The present Moving Average for the last 50 days of trading for this stock 8.58, while it was recorded at 8.80 for the last single week of trading, and 10.28 for the last 200 days.
Insight into Clover Health Investments Corp. Fundamentals:
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 3.70 and a Current Ratio set at 3.70.
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 18.00%.
Clover Health Investments Corp. [CLOV] Insider Position Details
There are presently around $1,145 million, or 58.80% 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 0% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 9,529,811 shares of the stock with an approximate value of $79.1 million in CLOV stocks shares; and BAILLIE GIFFORD & CO, currently with $42.68 million in CLOV stock with ownership of nearly 0% 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 87 institutional holders increased their position in Clover Health Investments Corp. [NASDAQ:CLOV] by around 7,769,471 shares. Additionally, 81 investors decreased positions by around 25,544,337 shares, while 24 investors held positions by with 104,698,111 shares. The mentioned changes placed institutional holdings at 138,011,919 shares, according to the latest SEC report filing. CLOV stock had 58 new institutional investments in for a total of 3,991,391 shares, while 48 institutional investors sold positions of 6,997,952 shares during the same period.