Clover Health Investments (NASDAQ:CLOV) Coverage Initiated by Analysts at UBS Group

Stock analysts at UBS Group began coverage on shares of Clover Health Investments (NASDAQ:CLOV) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $4.00 price target on the stock. UBS Group’s target price suggests a potential upside of 6.38% from the stock’s current price.

Clover Health Investments Price Performance

Shares of NASDAQ:CLOV opened at $3.76 on Monday. The company’s 50-day moving average price is $2.74 and its two-hundred day moving average price is $1.63. Clover Health Investments has a one year low of $0.61 and a one year high of $4.28. The stock has a market capitalization of $1.87 billion, a PE ratio of -11.06 and a beta of 2.13.

Clover Health Investments (NASDAQ:CLOV) last released its earnings results on Monday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.05. The business had revenue of $356.26 million for the quarter, compared to analyst estimates of $338.70 million. Clover Health Investments had a negative return on equity of 36.55% and a negative net margin of 7.30%. During the same quarter in the prior year, the company posted ($0.06) earnings per share. On average, analysts anticipate that Clover Health Investments will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clover Health Investments

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Viewpoint Capital Management LLC grew its holdings in Clover Health Investments by 96.8% during the second quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock worth $38,000 after purchasing an additional 15,000 shares during the period. Jaffetilchin Investment Partners LLC boosted its stake in shares of Clover Health Investments by 30.2% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock worth $39,000 after acquiring an additional 11,550 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Clover Health Investments by 54.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock worth $42,000 after acquiring an additional 12,104 shares during the period. Marshall Wace LLP acquired a new position in shares of Clover Health Investments during the 2nd quarter worth approximately $55,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Clover Health Investments by 151.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 77,948 shares of the company’s stock valued at $62,000 after acquiring an additional 46,912 shares during the period. 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.