Clover Health Investments Corp. (CLOV) shares have gained 0.25% at $7.92 in the after-hours session. Clover Health Investments Corp.’s stock added 0.25% to finish the last trading session at $7.90. The stock recorded a trading volume of 15.79 million shares, which is below the average daily trading volume published for the last 50 days of 28.55 million shares.
Most recent event
The Centers for Medicare and Medicaid Services approved the company’s request to expand its service area by 101 new counties earlier this week.
Fresh territory for the company in Georgia, New Jersey, South Carolina, Texas, and Alabama. Medicare-eligible individuals can enroll in Clover’s plans between October 15 and December 7 during its annual election period.
Over the second quarter of last year, revenue and membership doubled at the company.
Based on Clover Health’s second-quarter results, Joe Wagner, CFO, said the company is generating $1.6 billion annually.A 140% increase in second-quarter revenue was reported. In contrast, the company made a loss this time instead of a profit last time because of an increase in salaries and administrative expenses.
The shares of Clover Health Investments Corp. have advanced -2.95% in the last five days; however, they have lost -11.43% over the last month. The stock price has shed -42.71% over the last three months and has lost -32.25% so far this year.
A stock’s analyst rating can give you insight into its future. According to 5 analysts who observe Clover Health Investments Corp. (CLOV), the shares of the company are expected to trade between $7.00 and $10.00 in the next 12 months. The consensus price target for the stock is $7.90, suggesting a downside potential of -20.25% over the period. The median price target is 12.22% away from the current levels at $9.00.