Are Analysts Too Bullish On Clover Health Investments Corp. (CLOV)

Clover Health Investments Corp. (NASDAQ:CLOV) currently has a daily average trading volume of 6.83M but it saw 6616141 shares traded on Thursday. With a market cap of 491.29M USD, stock’s current market price of $0.98 came falling about -1.46 while comparing to the previous closing price of $0.99. In past 52 weeks, the stock remained buoying in the range of price level as high as $3.55 and as low as $0.71. In the recent trading on the day, stock has struck highest price mark of $0.994 while lowest mark touched by it was $0.9237.

Taking a look at 20-day trading activity of Clover Health Investments Corp. (CLOV) gives us an average price of $0.9205, while its current price level is -72.41% below from 52-week high level whereas it is 38.39% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $0.8699 while that of 200 days or SMA-200 reads an average of $1.3980. A closer look into the stock’s movement over the week reveals that its volatility is standing at 7.51% during that period while stretching the period over a month that decreases to 7.27%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 56.30 which implies that the stock is in neutral territory.

Data by FactSet Research shows that 6 analysts have issued their ratings for the stock. 1 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 1 analysts suggested the investors to Buy the stock while 3 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Hold for the stock and that issued by Wall Street to investors is Hold.

Over the week, CLOV’s stock price is moving -7.59% down while it is 34.62% when we observe its performance for the past one month. Year-to-date it is 5.38% up and over the past year, the stock is showing a downside performance of -61.89%.

The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of -$0.15 beat the consensus estimate of -$0.18 for the same. The company is expected to be releasing its next quarterly report in 08/08/2023, for which analysts forecasted an EPS of -$0.15 while estimate for next year EPS is -$0.58. For CLOV, analysts are forecasting an EPS-growth rate of 59.20% for current year and estimate for EPS growth in next year is 31.00%. In next quarter, company is expected to be making quarterly sales of $488.83 million as analysts are expecting the sales for current fiscal year at $2 billion and seeing the company making $2.11 billion in sales next year. Moreover, analysts are in estimates of $490.82 million for current-quarter revenue.

Currently, Clover Health Investments Corp.’s total number of outstanding shares is 478.81M with 13.64% of that held by the insiders while 32.37% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at -97.40% and return on equity (ROE) at -89.70%. Stock has a price to book (P/B) ratio of 1.46 while price to sale or P/S ratio amounts to 0.16. Its return on asset (ROA) is -22.90% on average.

As per SEC documents, Vanguard Total Stock Market ETF shunned 10,280,134 of company’s common stock of worth $7.6 million as per recent closing price of the stock. Vanguard Total Stock Market ETF is not the only institutional holder which restructured its stake in Clover Health Investments Corp., as Vanguard Small Cap Index Fund dumped 9,060,923 shares of worth $6.7 million to bring its holdings to a total of 2208.0 shares. In the most recent quarter, iShares Russell 2000 ETF came cutting its stake by -1.44% in the company and now holds 8.16 million or 2.08% of the company’s stake having worth of about 6.03 million.