Clover Health Investments Corp [NASDAQ: CLOV] jumped around 0.04 points on Monday, while shares priced at $1.13 at the close of the session, up 3.67%. The company report on November 6, 2023 at 4:05 PM that Clover Health Reports Third Quarter 2023 Results; Highlights Continued Improvement in Financial Performance and Improved 2023 Guidance.
Q3 2023 Insurance MCR Improved to 78.5%, bringing year-to-date MCR to 80.8%, and Insurance revenue grew 12% compared to Q3 2022.
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Company reports Q3 2023 Net Loss of $41.5 million and Adjusted EBITDA loss of $5.1 million.
Clover Health Investments Corp stock is now 21.57% up from its year-to-date (YTD) trading value. CLOV Stock saw the intraday high of $1.18 and lowest of $1.08 per share. The company’s 52-week high price is 1.63, which means current price is +59.65% above from all time high which was touched on 08/09/23.
Compared to the average trading volume of 3.89M shares, CLOV reached a trading volume of 7075039 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 $2.00 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 2.33. 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.
The Average True Range (ATR) for Clover Health Investments Corp is set at 0.07, 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 1.63. Price to Free Cash Flow for CLOV in the course of the last twelve months was 27.74.
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 23.58. With this latest performance, CLOV shares gained by 3.67% in over the last four-week period, additionally plugging by 28.91% over the last 6 months – not to mention a drop of -20.42% 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 60.13, with the RSI for the last a single of trading hit 67.80, and the three-weeks RSI is set at 55.57 for Clover Health Investments Corp [CLOV]. The present Moving Average for the last 50 days of trading for this stock 1.0992, while it was recorded at 1.0188 for the last single week of trading, and 1.0459 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 -10.35. Clover Health Investments Corp’s Net Margin is presently recorded at -9.72.
Return on Total Capital for CLOV is now -80.57, given the latest momentum, and Return on Invested Capital for the company is -74.31. Return on Equity for this stock declined to -76.74, with Return on Assets sitting at -38.52. 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 1.69. Additionally, CLOV Total Debt to Total Capital is recorded at 1.66, with Total Debt to Total Assets ending up at 0.72. Long-Term Debt to Equity for the company is recorded at 1.16, with the Long-Term Debt to Total Capital now at 1.14.
Reflecting on the efficiency of the workforce at the company, Clover Health Investments Corp [CLOV] managed to generate an average of -$516,530 per employee.Clover Health Investments Corp’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.24.
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]
The top three institutional holders of CLOV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in CLOV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in CLOV stock with ownership which is approximately 5.7994%.
