Clover Health Investments Corp (NASDAQ: CLOV) stock fell -1.92% on Friday to $1.02 against a previous-day closing price of $1.04. With 3.38 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.0 million shares. During the session, the Healthcare Plans company that operates in wider Healthcare sector, reached to the highest price of $1.0600 whereas the lowest price it dropped to was $0.9982. The 52-week range on CLOV shows that it touched its highest point at $1.63 and its lowest point at $0.71 during that stretch. It currently has a 1-year price target of $1.33. Beta for the stock currently stands at 2.03.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CLOV was up-trending over the past week, with a rise of 12.94%, but this was up by 8.43% over a month. The stock lost -25.55% in the past year, while it has gained 9.74% so far this year. A look at the trailing 12-month EPS for CLOV yields -0.47 with Next year EPS estimates of -0.19. For the next quarter, that number is -0.14. This implies an EPS growth rate of 41.55% for this year and 54.26% for next year.
Float and Shares Shorts:
At present, 381.93 million CLOV shares are outstanding with a float of 370.52 million shares on hand for trading. On Oct 30, 2023, short shares totaled 24.15 million, which was 4.96% higher than short shares on Sep 28, 2023. In addition to Mr. Vivek Garipalli as the firm’s Co-Founder & Executive Chairman, Mr. Andrew Toy serves as its Co-Founder, CEO & Director.
Institutional Ownership:
Through their ownership of 31.74% of CLOV’s outstanding shares, institutional investors have minority control over the company.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CLOV since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CLOV analysts setting a high price target of $2.00 and a low target of $1.00, the average target price over the next 12 months is $1.33. Based on these targets, CLOV could surge 96.08% to reach the target high and fall by -1.96% to reach the target low. Reaching the average price target will result in a growth of 30.39% from current levels.
Summary of Insider Activity:
Insiders traded CLOV stock several times over the past three months with 11 Buys and 6 Sells. In these transactions, 4,762,202 shares were bought while 440,819 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 18 over the past year. The total number of shares bought during that period was 15,949,228 while 1,799,897 shares were sold.
