The stock of Clover Health Investments Corp. (NASDAQ:CLOV) increased by $0.14 on Tuesday to finish at $1.37, up 11.38 percent. The last five days have seen an average of 3,442,820 shares of common stock traded. 12 times new highs were reached in the current year, with a gain of $0.4405. The average number of shares traded over the last 20 days was 5,995,895, while the average volume over the last 50 days totaled 9,066,700.
CLOV stock appreciated 9.60% since last month. On 07/31/23, the company’s shares reached a one-month low of $1.1414. The stock touched a high of $2.89 on 08/09/23, after rallying from a low of $0.71 in 52 weeks. The price of CLOV stock has risen by 47.39% or $0.4405 this year, reaching a new high 12 times. Still, the stock price is down -52.55% from the 52-week high.
Valuation Metrics
Beta for the stock is 2.00. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.24, the price-to-book (PB) ratio of 1.99, and the price-to-cash flow ratio of 33.82.
Financial Health
For the three months ended June 29, Clover Health Investments Corp.’s quick ratio was 1.20, while its current ratio was 1.20, indicating its ability to pay off its debt. Clover Health Investments Corp.’s operating margin stood at -9.30% for the same period. Based on annual data, it had gross profit of $22.73 million and revenue of $3.48 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CLOV’s return on assets (ROA) during the last 12 months has been -20.50%. There was a -97.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -74.40%.
Earnings Surprise
According to Clover Health Investments Corp.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $513.63 million, while revenues fell by -64.85% to $527.78 million. It was predicted that Clover Health Investments Corp.’s quarterly earnings would be -$0.06, but it ended up being -$0.15. EBITDA was -$29.03 million for the quarter. At the end of Clover Health Investments Corp.’s most recent quarter ended June 29, its liabilities totaled 927.43 million, while its total debt was $5.35 million. Equity owned by shareholders amounts to $484.86 million.
Technical Picture
Here’s a quick look at Clover Health Investments Corp.’s (CLOV) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 57.33%, suggesting the stock is Neutral, with a 63.64% historical volatility rate.
The stochastic %K and %D were 20.55% and 18.61% respectively, while the average true range (ATR) was 0.1178. Based on the 14-day stochastic reading of 40.26%, the RSI (14) reading is 57.25%. On the 9-day MACD Oscillator, the stock is at -0.0256, and the 14-day reading is at -0.0719.
Analyst Ratings
In its most recent analyst report, Cowen raised its rating on Clover Health Investments Corp. (NASDAQ: CLOV) to a Market perform. Prior to this, analysts firm rated the stock as an Underperform. Analysts have assigned Clover Health Investments Corp. (CLOV) an Hold rating. CLOV is a stock that is recommended for selling by 1 brokerage firm, while 3 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is CLOV’s price target for the next 12 months?
The current consensus forecast for the stock is between $0.90 and $3.00, with a median target price of $1.50. In analyzing these forecasts, the average price target given by analysts for Clover Health Investments Corp. (CLOV) is $1.65.
