BofA Securities raised the price target for the Clover Health Investments Corp. (NASDAQ:CLOV) stock from “a Neutral” to “an Underperform”. The rating was released on June 10, 2021. We previously noted in another research note published on May 17, 2021 by BofA Securities that downgraded the stock from a Buy to a Neutral with a price target of $9 for CLOV stock. The research report from Credit Suisse has initiated the stock to Neutral, with a price target set at $10. The stock was initiated by Citigroup, who disclosed in a research note on February 02, 2021, to Buy and set the price objective to $19. In their research brief published February 01, 2021, JP Morgan analysts initiated the Clover Health Investments Corp. stock to Neutral with a price target of $15.
The latest trade, Performances and Moving Averages give us the following Picture
The share price of Clover Health Investments Corp. (NASDAQ:CLOV) dipped -14.60% to close Tuesday’s market session at $10.00, lower as compared to yesterday’s close. The stock price fluctuated between $9.96 and $11.16 throughout the trading session with the volume trading being 75523791 shares, which represented a significant variation when compared to the three months average volume of 58.26 million shares. The firm’s stock price fluctuated -21.88% within the last five trades and 11.11% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price decreased -35.94% in the last 6 months and 31.41% was added to its value over the previous 3 months. CLOV stock is trading at a margin of -27.09%, -4.00% and -7.66% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, CLOV deals in the Healthcare domain. The stock is trading -65.34 percent below its 52-week high and 58.48 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is -46. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Clover Health Investments Corp.’s Profitability and Valuation Ratios Tell Us About the Stock?
The stock’s market cap achieved a total value of $4.30 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 21.45 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 6.41, which equates the market value of a stock with its book value.