For Clover Health Investments Corp. [CLOV], Analyst sees a drop to $3. What next?

Clover Health Investments Corp. [NASDAQ: CLOV] traded at a high on 11/29/22, posting a 0.82 gain after which it closed the day’ session at $1.23. The company report on November 7, 2022 that Clover Health Reports Third Quarter 2022 Financial Results.

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Third quarter Insurance MCR of 86.3% and year-to-date Insurance MCR of 91.7% demonstrate positive momentum.

The Company updates 2022 full year guidance to include improved 2022 Insurance MCR range of 93% to 94%.

The results of the trading session contributed to over 3372151 shares changing hands. Over the past one week, the price volatility of Clover Health Investments Corp. stands at 5.06% while the volatility over the past one month is 7.37%.

The market cap for CLOV stock reached $597.40 million, with 477.69 million shares outstanding and 346.36 million shares in the current float. Compared to the average trading volume of 7.36M shares, CLOV reached a trading volume of 3372151 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 $2.26 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 3.00. 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 0.10, with the Price to Sales ratio for CLOV stock in the period of the last 12 months amounting to 0.20. The Price to Book ratio for the last quarter was 1.50, with the Price to Cash per share for the same quarter was set at 1.49.

How has CLOV stock performed recently?

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 -0.81. With this latest performance, CLOV shares dropped by -21.66% in over the last four-week period, additionally sinking by -53.93% over the last 6 months – not to mention a drop of -75.79% 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 38.22, with the RSI for the last a single of trading hit 38.27, and the three-weeks RSI is set at 37.96 for Clover Health Investments Corp. [CLOV]. The present Moving Average for the last 50 days of trading for this stock 1.5638, while it was recorded at 1.2440 for the last single week of trading, and 2.4444 for the last 200 days.

Clover Health Investments Corp. [CLOV]: Deeper insight into the fundamentals

Clover Health Investments Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.

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 19.10%.

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

There are presently around $152 million, or 32.50% of CLOV stock, in the hands of institutional investors. The top three institutional holders of CLOV stocks are: VANGUARD GROUP INC with ownership of 30,910,067, which is approximately -3.692% of the company’s market cap and around 3.10% of the total institutional ownership; BLACKROCK INC., holding 25,887,235 shares of the stock with an approximate value of $31.84 million in CLOV stocks shares; and STATE STREET CORP, currently with $10.03 million in CLOV stock with ownership of nearly 2.579% of the company’s market capitalization.

Positions in Clover Health Investments Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 83 institutional holders increased their position in Clover Health Investments Corp. [NASDAQ:CLOV] by around 9,658,498 shares. Additionally, 63 investors decreased positions by around 9,374,519 shares, while 55 investors held positions by with 104,248,400 shares. The mentioned changes placed institutional holdings at 123,281,417 shares, according to the latest SEC report filing. CLOV stock had 24 new institutional investments in for a total of 1,464,699 shares, while 24 institutional investors sold positions of 2,201,900 shares during the same period.

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