The trading price of Clover Health Investments Corp (NASDAQ:CLOV) closed higher on Monday, November 18, and closing at $3.21, 5.59% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $3.05 and $3.26. In examining the 52-week price action we see that the stock hit a 52-week high of $4.71 and a 52-week low of $0.61. Over the past month, the stock has lost -19.75% in value.
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Clover Health Investments Corp, whose market valuation is $1.59 billion at the time of this writing, is expected to release its quarterly earnings report in December. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest CLOV has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CLOV a recommendation rating is 1. Out of them, 1 rate it a Hold, while 0 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Clover Health Investments Corp (CLOV) as Underweight, while 0 advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that CLOV’s price is currently -14.42% off the SMA20 and -9.25% off the SMA50. The RSI metric on the 14-day chart is currently showing 37.78, and weekly volatility stands at 5.27%. When measured over the past 30 days, the indicator reaches 6.19%. Clover Health Investments Corp (NASDAQ:CLOV)’s beta value is currently sitting at 2.00, while the Average True Range indicator is currently displaying 0.26. With analysts defining $1.8-$2.5 as the low and high price targets, we arrive at a consensus price target of $2.15 for the trailing 12-month period. The current price is about 43.93% off the estimated low and 22.12% off the forecast high, based on this estimate. Investors will be thrilled if CLOV’s share price rises to $2.15, which is the median consensus price. At that level, CLOV’s share price would be 33.02% above current price.
To see how Clover Health Investments Corp stock has been performing in comparison to its peers in the industry, here are the numbers: CLOV stock’s performance was 5.59% in the latest trading, and 208.65% in the past year.
An evaluation of the daily trading volume of Clover Health Investments Corp (NASDAQ:CLOV) indicates that the 3-month average is 9.38 million. However, this figure has increased over the past 10 days to an average of 9.96.
Currently, records show that 393.27 million of the company’s shares remain outstanding. The insiders hold 24.78% of outstanding shares, whereas institutions hold 16.37%. The stats also highlight that short interest as of 2024-10-31, stood at 18.33 million shares, resulting in a short ratio of 2.08 at that time. From this, we can conclude that short interest is 452.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were down slightly from the previous month’s figure, which was 25.51 million. However, since the stock’s price has seen 237.15% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
