A Guide To The Risks Of Investing In Clover Health Investments Corp. (CLOV)


In the meantime, Cowen upgraded its Clover Health Investments Corp. [CLOV] rating to a Market perform from a an Underperform in a research note published on Tuesday, February 02, 2022; the price target was decreased to $3 from $7. PT values the company’s stock at a premium of 69.0 to its Tuesday closing price. A number of analysts have revised their coverage, including Canaccord Genuity’s analysts, who began to cover the stock in early February with a ‘”a Buy”‘ rating. SVB Leerink began covering CLOV with “Mkt perform” recommendation on January 19, 2022.

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Price Performance Review of CLOV

On Tuesday, Clover Health Investments Corp. [NASDAQ:CLOV] saw its stock fall -0.31% to $0.93. On the same session, the stock had its day’s lowest price of $0.91, but rose to a high of $0.9824. Over the last five days, the stock has lost -9.19%. Clover Health Investments Corp. shares have fallen nearly -0.34% since the year began. Nevertheless, the stocks have fallen -70.02% over the past one year. While a 52-week high of $3.90 was reached on 02/02/23, a 52-week low of $0.86 was recorded on 03/13/23. SMA at 50 days reached $1.1465, while 200 days put it at $1.8226. A total of 8.34 million shares were traded, compared to the trading of 7.86 million shares in the previous session.

Levels Of Support And Resistance For CLOV Stock

The 24-hour chart illustrates a support level at 0.8967, which if violated will result in even more drops to 0.8672. On the upside, there is a resistance level at 0.9691. A further resistance level may holdings at 1.0120. The Relative Strength Index (RSI) on the 14-day chart is 36.97, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.1267, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.45%. Stochastics %K at 7.61% indicates the stock is a buying.

How much short interest is there in Clover Health Investments Corp.?

A steep rise in short interest was recorded in Clover Health Investments Corp. stocks on Jan 30, 2023, dropping by -1.45 million shares to a total of 29.03 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 30.48 million shares. There was a decline of -4.99%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.57% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.11.

Clover Health Investments Corp. [CLOV] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 31,256,954 shares, or roughly 8.15% of the outstanding CLOV shares. In other words, the investor’s shares have risen by 1,247,530 from its previous 13-F filing of 30009424.0. Additionally, BlackRock Fund Advisors increased 6.68% of its stake after which the total value it holdings stand at $30,494,651, while SSgA Funds Management, Inc. added 8.44% of its stake to hold $11.67 million in the firm. Over the last quarter, Geode Capital Management LLC purchased 355,933 shares of Clover Health Investments Corp., while PNC Bank, NA bought -251,449 shares. At present, Renaissance Technologies LLC is holding 4,402,400 shares valued at $5.81 million. Northern Trust Investments, Inc. owned 3,465,714 shares of the company at the time of its most recent 13F filing, worth $4.57 million.

According to FactSet, Clover Health Investments Corp.’s share price will average $1.66 in the next year, based on opinions of analysts polled by the firm. This is up nearly 50.54 percent from its previous closing price of $0.93. Analysts expect Clover Health Investments Corp. stock to reach the higher price of $3.00, while the lowest price estimate is $1.15. However, 6 analysts have rated CLOV stock as a Hold in their predictions for 2023.


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