Clover Health Investments Corp (CLOV) Volatility Spurs A Quest For Clarity

Currently, there are 393.27M common shares owned by the public and among those 375.30M shares have been available to trade.

The company’s stock has a 5-day price change of 16.51% and 54.65% over the past three months. CLOV shares are trading 33.39% year to date (YTD), with the 12-month market performance up to 43.94% higher. It has a 12-month low price of $0.61 and touched a high of $1.63 over the same period. CLOV has an average intraday trading volume of 6.98 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.73%, 43.65%, and 34.78% respectively.

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Institutional ownership of Clover Health Investments Corp (NASDAQ: CLOV) shares accounts for 18.07% of the company’s 393.27M shares outstanding.

It has a market capitalization of $630.48M and a beta (3y monthly) value of 2.12. The earnings-per-share (ttm) stands at -$0.33. The company has a debt-to-equity ratio at 0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.88% over the week and 8.78% over the month.

Earnings per share for the fiscal year are expected to increase by 53.65%, and -1.47% over the next financial year. EPS should grow at an annualized rate of 19.10% over the next five years, compared to -585.84% over the past 5-year period.

Looking at the support for the CLOV, a number of firms have released research notes about the stock. Cowen stated their Market Perform rating for the stock in a research note on February 02, 2022, with the firm’s price target at $7-$3. Canaccord Genuity coverage for the Clover Health Investments Corp (CLOV) stock in a research note released on February 02, 2022 offered a Buy rating with a price target of $6. SVB Leerink was of a view on January 19, 2022 that the stock is Mkt Perform, while Citigroup gave the stock Neutral rating on January 10, 2022, issuing a price target of $9- $3.50. Credit Suisse on their part issued Underperform rating on January 07, 2022.

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