Clover Health Investments Corp (NASDAQ:CLOV) price on Friday, October 25, rose 3.43% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $3.92.
A look at the stock’s price movement, the close in the last trading session was $3.79, moving within a range at $3.8 and $3.9399. The beta value (5-Year monthly) was 2.142. Turning to its 52-week performance, $4.71 and $0.61 were the 52-week high and 52-week low respectively. Overall, CLOV moved 36.59% over the past month.
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Clover Health Investments Corp’s market cap currently stands at around $1.95 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Nov-06.
Analysts have a consensus estimate of 346.28M for the company’s revenue for the quarter, with a low and high estimate of 345.42M and 347.6M respectively. The average forecast suggests down to a -28.20% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.39B, representing a -31.50% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CLOV is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 0 recommend CLOV as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CLOV’s current price about 2.10% and 19.00% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 58.67, while 7-day volatility ratio is 5.67% and 8.52% in the 30-day chart. Further, Clover Health Investments Corp (CLOV) has a beta value of 2.13, and an average true range (ATR) of 0.27. Analysts have given the company’s stock an average 52-week price target of $2.15, forecast between a low of $1.8 and high of $2.5. Looking at the price targets, the low is 54.08% off current price level while to achieve the yearly target high, price needs to move 36.22%. Nonetheless, investors will most likely welcome a 45.15% jump to $2.15 which is the analysts’ median price.
If we refocus on Clover Health Investments Corp (NASDAQ:CLOV), historical trading data shows that trading volumes averaged 8.29 over the past 10 days and 9.24 million over the past 3 months. The company’s latest data on shares outstanding shows there are 393.27 million shares.
The 25.13% of Clover Health Investments Corp’s shares are in the hands of company insiders while institutional holders own 14.83% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 25.51 million on 2024-09-30, giving us a short ratio of 3.53. The data shows that as of 2024-09-30 short interest in Clover Health Investments Corp (CLOV) stood at 635.0 of shares outstanding, with shares short rising to 20.09 million registered in 2024-08-30. Current price change has pushed the stock 311.72% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CLOV stock continues to rise going into the next quarter.
