Clover Health Investments Corp (NASDAQ:CLOV) price on Wednesday, February 05, rose 4.25% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $4.66.
A look at the stock’s price movement, the close in the last trading session was $4.47, moving within a range at $4.44 and $4.66. The beta value (5-Year monthly) was 2.043. Turning to its 52-week performance, $4.87 and $0.61 were the 52-week high and 52-week low respectively. Overall, CLOV moved 41.64% over the past month.
Clover Health Investments Corp’s market cap currently stands at around $2.34 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 346.92M for the company’s revenue for the quarter, with a low and high estimate of 343.62M and 353.22M respectively. The average forecast suggests down to a -32.01% 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 -32.09% 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 10.39% and 27.49% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 69.91, while 7-day volatility ratio is 5.68% and 6.60% in the 30-day chart. Further, Clover Health Investments Corp (CLOV) has a beta value of 1.99, and an average true range (ATR) of 0.25. Analysts have given the company’s stock an average 52-week price target of $4.25, forecast between a low of $2.5 and high of $6. Looking at the price targets, the low is 46.35% off current price level while to achieve the yearly target high, price needs to move -28.76%. Nonetheless, investors will most likely welcome a 8.8% jump to $4.25 which is the analysts’ median price.
If we refocus on Clover Health Investments Corp (NASDAQ:CLOV), historical trading data shows that trading volumes averaged 7.32 over the past 10 days and 6.28 million over the past 3 months. The company’s latest data on shares outstanding shows there are 394.44 million shares.
The 24.90% of Clover Health Investments Corp’s shares are in the hands of company insiders while institutional holders own 16.40% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 16.42 million on 2025-01-15, giving us a short ratio of 2.88. The data shows that as of 2025-01-15 short interest in Clover Health Investments Corp (CLOV) stood at 404.0 of shares outstanding, with shares short rising to 14.64 million registered in 2024-12-13. Current price change has pushed the stock 47.94% 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.
