Cowen slashes price target on Clover Health Investments Corp. [CLOV] – find out why.


Clover Health Investments Corp. [NASDAQ: CLOV] slipped around -0.07 points on Monday, while shares priced at $3.43 at the close of the session, down -2.00%. The company report on March 15, 2022 that Clover Health Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4).

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Clover Health (Nasdaq: CLOV) (“Clover” or the “Company”), a physician enablement company committed to improving health equity for seniors, today announced that on March 14, 2022, the Talent and Compensation Committee of the Company’s Board of Directors granted inducement restricted stock unit awards to Conrad Wai, who joined the Company as Chief Technology Officer on February 28, 2022, and to Joseph Martin, who joined the Company as General Counsel on March 14, 2022. The restricted stock unit awards were granted under the Company’s 2022 Inducement Award Plan (the “Inducement Plan”) and otherwise will be subject to the terms and conditions of restricted stock unit award agreements under the Inducement Plan.

Both Mr. Wai and Mr. Martin received a restricted stock unit award covering 3,100,775 shares of the Company’s Class A common stock that will vest over four years, with 25% vesting on the first anniversary of March 14, 2022, and the remainder vesting in equal quarterly installments over the subsequent three years, subject to continued service at each vesting date.

Clover Health Investments Corp. stock is now -7.80% down from its year-to-date (YTD) trading value. CLOV Stock saw the intraday high of $3.62 and lowest of $3.3701 per share. The company’s 52-week high price is 28.85, which means current price is +75.90% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 15.63M shares, CLOV reached a trading volume of 11528281 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $4.64 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 3.60. 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 Market Perform, with their previous recommendation back on February 02, 2022. While these analysts kept the previous recommendation, Canaccord Genuity raised their target price to Buy. The new note on the price target was released on February 02, 2022, representing the official price target for Clover Health Investments Corp. stock. Previously, the target price had yet another raise to $3, while SVB Leerink analysts kept a Mkt Perform rating on CLOV stock. On January 10, 2022, analysts decreased their price target for CLOV shares from 9 to 3.50.

The Average True Range (ATR) for Clover Health Investments Corp. is set at 0.28, with the Price to Sales ratio for CLOV stock in the period of the last 12 months amounting to 1.01. The Price to Book ratio for the last quarter was 2.70, with the Price to Cash per share for the same quarter was set at 1.45.

How has CLOV stock performed recently?

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 28.95. With this latest performance, CLOV shares gained by 57.34% in over the last four-week period, additionally sinking by -56.31% over the last 6 months – not to mention a drop of -60.98% 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 62.01, with the RSI for the last a single of trading hit 66.29, and the three-weeks RSI is set at 57.56 for Clover Health Investments Corp. [CLOV]. The present Moving Average for the last 50 days of trading for this stock 2.72, while it was recorded at 3.23 for the last single week of trading, and 6.71 for the last 200 days.

Clover Health Investments Corp. [CLOV]: Deeper insight into the 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 -37.11. Clover Health Investments Corp.’s Net Margin is presently recorded at -38.21.

Return on Equity for this stock declined to -88.46, with Return on Assets sitting at -65.05.

Clover Health Investments Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.00.

Earnings analysis for Clover Health Investments Corp. [CLOV]

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%.

Insider trade positions for Clover Health Investments Corp. [CLOV]

There are presently around $445 million, or 34.60% of CLOV stock, in the hands of institutional investors. The top three institutional holders of CLOV stocks are: VANGUARD GROUP INC with ownership of 25,887,351, which is approximately 52.281% of the company’s market cap and around 0.90% of the total institutional ownership; GREENOAKS CAPITAL PARTNERS LLC, holding 24,847,610 shares of the stock with an approximate value of $85.23 million in CLOV stocks shares; and BAILLIE GIFFORD & CO, currently with $26.71 million in CLOV stock with ownership of nearly 51.447% of the company’s market capitalization.

Positions in Clover Health Investments Corp. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 97 institutional holders increased their position in Clover Health Investments Corp. [NASDAQ:CLOV] by around 52,241,372 shares. Additionally, 62 investors decreased positions by around 28,043,972 shares, while 35 investors held positions by with 49,592,535 shares. The mentioned changes placed institutional holdings at 129,877,879 shares, according to the latest SEC report filing. CLOV stock had 47 new institutional investments in for a total of 22,003,708 shares, while 33 institutional investors sold positions of 914,485 shares during the same period.