Clover Health Investments Corp (NASDAQ:CLOV) price on current trading day, rose 1.32% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $3.48.
A look at the stock’s price movement, the level at last check in today’s session was $3.43, moving within a range at $3.44 and $3.54. The beta value (5-Year monthly) was 2.043. Turning to its 52-week performance, $4.71 and $0.61 were the 52-week high and 52-week low respectively. Overall, CLOV moved -19.55% over the past month.
Clover Health Investments Corp’s market cap currently stands at around $1.74 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 348.02M for the company’s revenue for the quarter, with a low and high estimate of 343.9M and 353.22M respectively. The average forecast suggests down to a -31.79% 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 1.38B, representing a -32.04% 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 50% Buy. On the other hand, the stock is on average a 50% 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 3.69% and -5.02% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 49.10, while 7-day volatility ratio is 3.70% and 5.45% in the 30-day chart. Further, Clover Health Investments Corp (CLOV) has a beta value of 1.95, and an average true range (ATR) of 0.18. Analysts have given the company’s stock an average 52-week price target of $2.5, forecast between a low of $2.5 and high of $2.5. Looking at the price targets, the low is 28.16% off recent price level in today’s trading while to achieve the yearly target high, it has to move 28.16%. Nonetheless, investors will most likely welcome a 28.16% jump to $2.5 which is the analysts’ median price.
If we refocus on Clover Health Investments Corp (NASDAQ:CLOV), historical trading data shows that trading volumes averaged 4.2 over the past 10 days and 7.37 million over the past 3 months. The company’s latest data on shares outstanding shows there are 394.44 million shares.
The 24.78% of Clover Health Investments Corp’s shares are in the hands of company insiders while institutional holders own 16.39% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 16.44 million on 2024-11-15, giving us a short ratio of 1.99. The data shows that as of 2024-11-15 short interest in Clover Health Investments Corp (CLOV) stood at 405.0 of shares outstanding, with shares short rising to 15.75 million registered in 2024-10-15. Current price change has pushed the stock 265.01% 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.
