At the last check on Thursday, Clover Health Investments Corp.’s (NASDAQ:CLOV) stock was down -$0.03, moving down -1.77 percent to $1.38. The average number of shares traded per day over the past five days has been 5,755,118 shares. 2 times new highs have been achieved over the past 5 days, with a $0.0650 gain in that time frame. In the last twenty days, the average volume was 6,352,395, while in the previous 50 days, it was 10,166,918.
Since last month, CLOV stock rose 18.38%. Shares of the company fell to $1.0100 on 07/18/23, the lowest level in the past month. A 52-week high of $3.23 was reached on 08/09/23 after having rallying from a 52-week low of $0.71. Since the beginning of this year, CLOV’s stock price has risen by 49.00% or $0.4555, and marked a new high 12 times. However, the stock has declined by -57.19% since its 52-week high.
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Valuation Metrics
The stock’s beta is 1.92. Besides these, the trailing price-to-sales (P/S) ratio of 0.21, the price-to-book (PB) ratio of 2.01, and the price-to-cash flow ratio of 29.77 may also be considered.
Financial Health
In the three months ended June 29, Clover Health Investments Corp.’s quick ratio stood at 1.20, while its current ratio was 1.20, showing that the company is able to pay off its debt. In the year ended June 29, operating margins totaled -9.30%. Based on annual data, CLOV earned $22.73 million in gross profit and brought in $3.48 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -97.40%. Return on equity (ROE) for the past 12 months was -74.40%.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. CLOV’s revenue fell -64.85% to $527.78 million during the quarter, while net income inched up to $513.63 million. While analysts expected Clover Health Investments Corp. to report -$0.15 quarterly earnings, the actual figure was -$0.06 per share. During the quarter, the company generated -$29.03 million in EBITDA. The liabilities of Clover Health Investments Corp. were 927.43 million at the end of its most recent quarter ended June 29, and its total debt was $5.35 million. The value of shareholders’ equity is $484.86 million.
Technical Picture
This quick technical analysis looks at Clover Health Investments Corp.’s (CLOV) price momentum. With a historical volatility rate of 102.07%, the RSI 9-day stood at 55.97% on 16 August.
With respect to its five-day moving average, the current Clover Health Investments Corp. price is up by +4.92% percent or $0.0650. At present, CLOV shares trade +20.43% above its 20-day simple moving average and +56.78% percent above its 100-day simple moving average. However, the stock is currently trading approximately +34.47% above its SMA50 and -11.78% below its SMA200.
Stochastic coefficient K was 57.45% and Stochastic coefficient D was 67.78%, while ATR was 0.1371. Given the Stochastic reading of 49.86% for the 14-day period, the RSI (14) reading has been calculated as 58.65%.
Analyst Ratings
Cowen upgraded its rating on Clover Health Investments Corp. (NASDAQ: CLOV) to a Market perform in a note to investors on February 02, 2022. The analysts firm previously had an Underperform rating on the stock.Clover Health Investments Corp. (CLOV) has been rated Hold by analysts. According to 1 brokerage firm, CLOV is a sell, and 3 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 0 analysts rate Clover Health Investments Corp. stock as buy, with 1 recommending it as overweight.
With a median target price of $1.50, the current consensus forecast for the stock is $0.90 – $3.00. Based on these forecasts, analysts predict Clover Health Investments Corp. (CLOV) will achieve an average price target of $1.65.
