Clover Health Investments Corp (NASDAQ:CLOV) saw an upside of 1.59% to $1.12 after adding $0.02 on Monday. The 5-day average trading volume is 1,841,507 shares of the company’s common stock. It has gained $1.1375 in the past week and touched a new high 3 times within the past 5 days. An average of 3,317,912 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,940,263.
CLOV’s 1-month performance is -12.01% or -$0.1450 on its low of $1.0500 reached on 09/21/23. The company’s shares have touched a 52-week low of $0.71 and high of $2.10, with the stock’s rally to the 52-week high happening on 08/09/23. YTD, CLOV has achieved 20.23% or $0.1855 and has reached a new high 12 times. However, the current price is down -46.79% from the 52-week high price.
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Valuation Metrics
CLOV stock has a beta of 2.03. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.19 while the price-to-book (PB) in the most recent quarter is 1.62, with the price to cash flow ratio at 27.43.
As well, the company’s long term debt to equity for the quarter ending June 29 was 0.01, while the total debt to equity was 0.02. The firm’s gross profit as reported stood at $22.73 million against revenue of $3.48 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -261.61% to -$28.81 million, while revenue of -$72.61 million was -152.03% off the previous quarter. Analysts expected CLOV to announce -$0.15 per share in earnings in its latest quarter, but it posted -$0.06, representing a 60.00% surprise. EBITDA for the quarter stood at more than -$29.03 million. CLOV stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 927.43 million, with total debt at $5.35 million. Shareholders hold equity totaling $484.86 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 22 September was 37.65% to suggest the stock is trending Neutral, with historical volatility in this time period at 54.22%.
The stock’s 5-day moving average is $1.0890, reflecting a +1.36% or $0.0150 change from its current price. CLOV is currently trading -11.51% above its 20-day SMA, +52.14% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +11.68% and SMA200 by-6.30%.
Stochastic %K and %D was 13.43% and 9.46% and the average true range (ATR) pointed at 0.0736. The RSI (14) points at 40.72%, while the 14-day stochastic is at 18.06% with the period’s ATR at 0.0827. The stock’s 9-day MACD Oscillator is pointing at -0.0156 and -0.0867 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, 0 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 $0.90 and a high of $3.00, with their median price target at $1.50. Looking at these predictions, the average price target given by analysts is for Clover Health Investments Corp (CLOV) stock is $1.73.
