Clover Health Investments (NASDAQ:CLOV) Reaches New 12-Month High – Should You Buy?

Clover Health Investments, Corp. (NASDAQ:CLOV) reached a new 52-week high during trading on Friday . The company traded as high as $4.73 and last traded at $4.68, with a volume of 1022951 shares trading hands. The stock had previously closed at $4.68.

Analysts Set New Price Targets

CLOV has been the subject of several research reports. UBS Group began coverage on Clover Health Investments in a research report on Monday, October 7th. They issued a “neutral” rating and a $4.00 target price for the company. Craig Hallum started coverage on Clover Health Investments in a research note on Tuesday, December 17th. They set a “buy” rating and a $6.00 price objective on the stock.

Clover Health Investments Stock Performance

The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -24.10 and a beta of 1.95. The company’s 50 day simple moving average is $3.48 and its 200 day simple moving average is $3.11.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. The firm had revenue of $330.99 million during the quarter, compared to analyst estimates of $347.60 million. During the same period last year, the company posted ($0.09) EPS. Sell-side analysts predict that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Clover Health Investments

Several large investors have recently modified their holdings of CLOV. Ballentine Partners LLC purchased a new stake in Clover Health Investments during the fourth quarter valued at about $131,000. SignalPoint Asset Management LLC lifted its position in shares of Clover Health Investments by 6.2% in the 4th quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company’s stock valued at $504,000 after acquiring an additional 9,390 shares in the last quarter. Steph & Co. boosted its stake in Clover Health Investments by 33.3% in the 4th quarter. Steph & Co. now owns 20,000 shares of the company’s stock worth $63,000 after purchasing an additional 5,000 shares during the period. Graypoint LLC purchased a new position in Clover Health Investments during the 4th quarter worth approximately $632,000. Finally, Silverleafe Capital Partners LLC grew its position in Clover Health Investments by 182.9% during the 4th quarter. Silverleafe Capital Partners LLC now owns 45,000 shares of the company’s stock worth $142,000 after purchasing an additional 29,091 shares in the last quarter. 19.77% of the stock is owned by institutional investors.

About Clover Health Investments

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.