Clover Health Investments Corp [NASDAQ: CLOV] traded at a low on Tuesday, posting a -3.68 loss after which it closed the day’ session at $0.96. The company report on February 16, 2024 at 4:30 PM that Clover Health Announces Inducement Grant under Nasdaq Listing Rule 5635(c)(4).
The RSUs represent the employee’s right to receive 902,061 shares of the Company’s Class A Common Stock, subject to such award’s applicable vesting schedule. 25% of the RSUs will vest on the first anniversary of February 16, 2024, with the remaining RSUs vesting in equal quarterly installments over the subsequent three years, subject to continued service of the employee at each such vesting date.
The results of the trading session contributed to over 8630464 shares changing hands. Over the past one week, the price volatility of Clover Health Investments Corp stands at 5.32% while the volatility over the past one month is 4.65%.
The market cap for CLOV stock reached $466.28 million, with 381.93 million shares outstanding and 369.53 million shares in the current float. Compared to the average trading volume of 7.34M shares, CLOV reached a trading volume of 8630464 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 $1.33 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 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. 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 0.05, with the Price to Sales ratio for CLOV stock in the period of the last 12 months amounting to 0.19. The Price to Book ratio for the last quarter was 1.43.
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 -6.25. With this latest performance, CLOV shares gained by 1.98% in over the last four-week period, additionally sinking by -29.17% over the last 6 months – not to mention a drop of -18.27% 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 46.72, with the RSI for the last a single of trading hit 44.45, and the three-weeks RSI is set at 47.78 for Clover Health Investments Corp [CLOV]. The present Moving Average for the last 50 days of trading for this stock 0.9732, while it was recorded at 0.9746 for the last single week of trading, and 1.0366 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 Current Ratio set at 1.27.
Earnings analysis for Clover Health Investments Corp [CLOV]
With the latest financial reports released by the company, Clover Health Investments Corp posted -0.17/share EPS, while the average EPS was predicted by analysts to be reported at -0.25/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 32.00%. 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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CLOV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CLOV stock with ownership which is approximately 5.8325%.
