Reviewing The Case For Clover Health Investments Corp (CLOV) Going Higher

Currently, there are 393.27M common shares owned by the public and among those 375.66M shares have been available to trade.

The company’s stock has a 5-day price change of 11.65% and 138.15% over the past three months. CLOV shares are trading 332.73% year to date (YTD), with the 12-month market performance up to 303.92% higher. It has a 12-month low price of $0.61 and touched a high of $4.28 over the same period. CLOV has an average intraday trading volume of 8.69 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 22.62%, 40.37%, and 176.18% respectively.

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Institutional ownership of Clover Health Investments Corp (NASDAQ: CLOV) shares accounts for 14.80% of the company’s 393.27M shares outstanding.

It has a market capitalization of $2.05B and a beta (3y monthly) value of 2.13. The earnings-per-share (ttm) stands at -$0.26. 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 6.15% over the week and 7.91% over the month.

Earnings per share for the fiscal year are expected to increase by 68.85%, and -6.15% 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. UBS stated their Neutral rating for the stock in a research note on October 07, 2024, with the firm’s price target at $4. Cowen coverage for the Clover Health Investments Corp (CLOV) stock in a research note released on February 02, 2022 offered a Market Perform rating with a price target of $3. Canaccord Genuity was of a view on February 02, 2022 that the stock is Buy, while SVB Leerink gave the stock Mkt Perform rating on January 19, 2022, issuing a price target of $3. Citigroup on their part issued Neutral rating on January 10, 2022.

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