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Clover Health Investments Corp (CLOV) Is Down -22.59% in 2024 With Lots of Room to Run

Clover Health Investments Corp (NASDAQ: CLOV) is -22.59% lower on its value in year-to-date trading and has touched a low of $0.71 and a high of $1.63 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CLOV stock was last observed hovering at around $0.77 in the last trading session, with the day’s loss setting it -0.03%.

Currently trading at $0.74, the stock is -8.15% and -17.61% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.83 million and changing -4.25% at the moment leaves the stock -27.65% off its SMA200. CLOV registered -10.63% loss for a year compared to 6-month loss of -31.76%. The firm has a 50-day simple moving average (SMA 50) of $0.06 and a 200-day simple moving average (SMA200) of -$0.61.

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The stock witnessed a -14.82% gain in the last 1 month and extending the period to 3 months gives it a -22.59%, and is -6.83% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.73% over the week and 6.45% over the month.

Clover Health Investments Corp (CLOV) has around 552 employees, a market worth around $363.72M and $2.03B in sales. Profit margin for the company is -10.52%. Distance from 52-week low is 4.13% and -54.79% from its 52-week high. The company has generated returns on investments over the last 12 months (-73.73%).

Clover Health Investments Corp quarterly earnings per share for the current quarter are estimated at -$0.07 with sales reaching $321.23M over the same period.The EPS is expected to grow by 50.14% this year, but quarterly earnings will post -37.30% year-over-year. Quarterly sales are estimated to shrink -39.10% in year-over-year returns.

Clover Health Investments Corp (CLOV) Top Institutional Holders

171 institutions hold shares in Clover Health Investments Corp (CLOV), with institutional investors hold 26.40% of the company’s shares. The shares outstanding are 393.27M, and float is at 374.90M with Short Float at 12.68%. Institutions hold 24.45% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 31.43 million shares valued at $28.2 million. The investor’s holdings represent 7.92% of the CLOV Shares outstanding. As of Jun 29, 2023, the second largest holder is Renaissance Technologies, LLC with 8.85 million shares valued at $7.94 million to account for 2.23% of the shares outstanding. The other top investors are Blackrock Inc. which holds 7.77 million shares representing 1.96% and valued at over $6.97 million, while Citadel Advisors Llc holds 1.35% of the shares totaling 5.35 million with a market value of $4.8 million.

Clover Health Investments Corp (CLOV) Insider Activity

The most recent transaction is an insider purchase by Loengard Anna U,the company’sDirector. SEC filings show that Loengard Anna U bought 137,000 shares of the company’s common stock on Mar 14 ’24 at a price of $0.73 per share for a total of $0.1 million. Following the purchase, the insider now owns 0.54 million shares.

Clover Health Investments Corp disclosed in a document filed with the SEC on Mar 14 ’24 that Loengard Anna U (Director) bought a total of 13,625 shares of the company’s common stock. The trade occurred on Mar 14 ’24 and was made at $0.73 per share for $9946.0. Following the transaction, the insider now directly holds 15125.0 shares of the CLOV stock.

Still, SEC filings show that on Sep 06 ’23, Loengard Anna U (Director) acquired 11,000 shares at an average price of $1.30 for $14300.0. The insider now directly holds 10,000 shares of Clover Health Investments Corp (CLOV).

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