Clover Health Investments Corp. (NASDAQ: CLOV) Stock: Does It Have More Upside?

In the last trading session, 9.23 million shares of the Clover Health Investments Corp. (NASDAQ:CLOV) were traded. Most recently the company’s share price was $3.10, and it changed around $0.18 or 6.16% from the last close, which brings the market valuation of the company to $1.40B. CLOV currently trades at a discount to its 52-week high of $11.13, offering almost -259.03% off that amount. The share price’s 52-week low was $1.95, which indicates that the current value has risen by an impressive 37.1% since then. We note from Clover Health Investments Corp.’s average daily trading volume that its 10-day average is 4.92 million shares, with the 3-month average coming to 8.91 million.

Clover Health Investments Corp. stock received a consensus recommendation rating of a Hold, based on a mean score of 3.00. If we narrow it down even further, the data shows that 1 out of 6 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 3 recommended CLOV as a Hold, whereas 1 deemed it a Buy, and 1 rated it as Underweight. Clover Health Investments Corp. is expected to report earnings per share of -$0.21 for the current quarter.

Instantly CLOV has showed a green trend with a performance of 6.16% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 3.12 on Tuesday, 08/02/22 increased the stock’s daily price by 0.64%. The company’s shares are currently down -16.67% year-to-date, but still up 22.53% over the last five days. On the other hand, Clover Health Investments Corp. (NASDAQ:CLOV) is 37.78% up in the 30-day period. We can see from the shorts that 36.26 million shares have been sold at a short interest cover period of 3.53 day(s).

The consensus price target as assigned by Wall Street analysts is $3.58, which translates to bulls needing to increase their stock price by 13.41% from its current value. Analyst projections state that CLOV is forecast to be at a low of $2.00 and a high of $7.00. In order for the stock price to hit the forecast high, the stock would need to plunge -125.81% from its current level, while the stock would need to crash 35.48% from its current level to reach the projected low.

Clover Health Investments Corp. (CLOV) estimates and forecasts

Clover Health Investments Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 20.16 percent over the past six months and at a 26.76% annual growth rate that is well above the industry average of -0.70%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 73.10% in revenue this quarter, and will report a decrease of -162.50% in the next quarter. The year-over-year growth rate is expected to be 124.60%, up from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $814.62 million in revenue for the current quarter. 5 analysts expect Clover Health Investments Corp. to make $813.37 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $205.38 million and $427.16 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 296.60%. Forecasts for the next quarter put sales growth at 90.40%.

Clover Health Investments Corp. earnings are expected to increase by 36.30% in 2022, but the outlook is positive 19.10% per year for the next five years.

CLOV Dividends

Clover Health Investments Corp.’s next quarterly earnings report is expected to be released on November 08.

Clover Health Investments Corp. (NASDAQ:CLOV)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 12.24% of Clover Health Investments Corp. shares, and 27.13% of them are in the hands of institutional investors. The stock currently has a share float of 30.91%. Clover Health Investments Corp. stock is held by 215 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2022, it held 6.89% of the shares, which is about 26.09 million shares worth $92.61 million.

Baillie Gifford and Company, with 2.06% or 7.79 million shares worth $27.65 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Mar 30, 2022. The former held 8.57 million shares worth $30.43 million, making up 2.26% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 8.48 million shares worth around $18.14 million, which represents about 2.24% of the total shares outstanding.

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