Clover Health Investments Corp. (CLOV) Stock: Should Investors Follow These Insider Trades?

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Clover Health Investments Corp. (NASDAQ:CLOV) saw a downside of -5.47% to close Tuesday at $1.21 after subtracting -$0.07 on the day. The 5-day average trading volume is 4,107,200 shares of the company’s common stock. It has gained $1.3100 in the past week and touched a new high 1 time within the past 5 days. An average of 6,983,520 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,458,932.

CLOV’s 1-month performance is 24.34% or $0.2888 on its low of $0.8601 reached on 12/27/22. The company’s shares have touched a 52-week low of $0.86 and high of $3.90, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, CLOV has achieved 30.18% or $0.2805 and has reached a new high 9 times. However, the current price is down -68.97% from the 52-week high price.

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Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.18 while the price-to-book (PB) in the most recent quarter is 1.48.

Clover Health Investments Corp.’s quick ratio for the period ended September 29 was 1.30, with the current ratio over the same period at 1.30. The firm’s gross profit as reported stood at -$71.55 million against revenue of $1.47 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 54.15% to -$75.31 million, while revenue of -$104.18 million was -38.33% off the previous quarter. Analysts expected CLOV to announce -$0.24 per share in earnings in its latest quarter, but it posted -$0.16, representing a 33.30% surprise. EBITDA for the quarter stood at more than -$73.98 million. CLOV stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 1.17 billion, with total debt at $26.23 million. Shareholders hold equity totaling $477.94 million.

Let’s look briefly at Clover Health Investments Corp. (CLOV) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 56.87% to suggest the stock is trending Neutral, with historical volatility in this time period at 61.37%.

The stock’s 5-day moving average is $1.2300, reflecting a -3.97% or -$0.0500 change from its current price. CLOV is currently trading +29.47% above its 20-day SMA, -54.51% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -1.63% and SMA200 by-63.99%.

Stochastic %K and %D was 85.71% and 82.91% and the average true range (ATR) pointed at 0.0876. The RSI (14) points at 55.26%, while the 14-day stochastic is at 76.19% with the period’s ATR at 0.0871. The stock’s 9-day MACD Oscillator is pointing at 0.0200 and 0.0882 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Clover Health Investments Corp. (NASDAQ: CLOV), Cowen upgraded it to a Market perform rating. They previously had an Underperform rating on the stock. Analysts offering their rating for CLOV stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate CLOV as a “sell,”, while 3 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.

What is CLOV’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $1.25 and a high of $4.00, with their median price target at $1.63. Looking at these predictions, the average price target given by analysts is for Clover Health Investments Corp. (CLOV) stock is $2.05.

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