Clover Health Investments Corp (NASDAQ:CLOV) price on Wednesday, May 09, rose 17.65% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $0.87.
A look at the stock’s price movement, the close in the last trading session was $0.74. Turning to its 52-week performance, $1.63 and $0.61 were the 52-week high and 52-week low respectively. Overall, CLOV moved 18.21% over the past month.
Clover Health Investments Corp’s market cap currently stands at around $430.09 million.
Analysts have a consensus estimate of 346.92M for the company’s revenue for the quarter, with a low and high estimate of 316.1M and 325.59M respectively. The average forecast suggests down to a -34.30% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.28B, representing a -37.30% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CLOV is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
CLOV’s current price about 31.32% and 16.90% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 72.29, while 7-day volatility ratio is 8.01% and 6.25% in the 30-day chart. Further, Clover Health Investments Corp (CLOV) has a beta value of 1.91, and an average true range (ATR) of 0.05.
If we refocus on Clover Health Investments Corp (NASDAQ:CLOV), historical trading data shows that trading volumes averaged 9.17 million over the past 3 months. The company’s latest data on shares outstanding shows there are 393.27 million shares.
The 23.68% of Clover Health Investments Corp’s shares are in the hands of company insiders while institutional holders own 19.62% of the company’s shares. Current price change has pushed the stock -8.56% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CLOV stock continues to rise going into the next quarter.