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HEALTHCARE | Medical Facilities & Services / Health care plans
cloverhealth.com

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Founded Year

2014

Stage

Reverse Merger | IPO

Total Raised

$925M

Market Cap

1.91B

Stock Price

4.30

About Clover Health

Clover is a healthcare technology company helping members live their healthiest lives with its Medicare Advantage plans. On a mission to improve every life, Clover uses its proprietary technology platform to collect, structure, and analyze health and behavioral data to improve medical outcomes and lower costs for patients. As a company whose business goals fully align with its members' health needs, Clover works with members and their doctors to become valued partners. Clover has offices in Nashville, San Francisco, Jersey City, and Hong Kong.

Clover Health Headquarter Location

30 Montgomery St 15th Floor

Jersey City, New Jersey, 07303,

United States

888-778-1478

Latest Clover Health News

Should You Buy the Dip in Clover Health?

Nov 29, 2021

Medicare Advantage insurer Clover Health’s (CLOV) shares have declined in price substantially over the past few months after hitting their record high in June, driven by the meme-stock craze. The... This story originally appeared on StockNews Medicare Advantage insurer Clover Health’s (CLOV) shares have declined in price substantially over the past few months after hitting their record high in June, driven by the meme-stock craze. The stock is currently trading near its 52-week low. So, given the company’s low-profit margins, is the stock a buy on its dip? Let’s discuss. shutterstock.com - StockNews Clover Health Investments, Corp. ( CLOV ), in Franklin, Tenn., is a U.S.-based Medicare Advantage insurer that provides preferred provider organizations and health maintenance organizations with health plans for Medicare-eligible consumers. The company was listed on the New York Stock Exchange on January 8 through a merger with venture investor Chamath Palihapitiya’s Social Capital SPAC. CLOV caught Redditors’ attention in early June, fostering a short squeeze to reach its record high within a week .. However, the Reddit-fueled run-up for this meme stock did not last long due to its weak fundamentals. CLOV shares are down substantially from their June high. The stock is currently trading below its 50-day and 200-day moving averages and near its 52-week low. The stock’s price slumped after the company announced its issuance of an additional $300 million of common stock, diluting the holdings of existing shareholders. On November 23, CLOV closed a public offering of shares of its Class A Common Stock. The company expects to use the offering’s net proceeds for working capital and general corporate purposes. Here is what could shape CLOV’s performance in the near term: Bleak Financials CLOV’s operating expenses increased 202.3% year-over-year to $576.42 million in its fiscal third quarter, ended September 30. Also, its loss from operations stood at $149.25 million, up 590.4% from the same period last year. Its net income declined 370.6% year-over-year to a negative $34.53 million. The company’s net loss per share came in at $0.08, compared to $0.02 in net income per share in the third quarter of 2020. Its normalized adjusted EBITDA was negative $61.08 million, representing a substantial decline from its negative $36.78 million year-ago value. Lawsuits Poor Profitability CLOV’s negative 11.31% gross profit margin is substantially lower than the 54.86% industry average. Also, its 0.05% Capex/Sales is 98.8% lower than the 3.93% industry average. Furthermore, CLOV’s EBIT and EBITDA margins of negative 44.71% and 44.66%, respectively, compare with the 2.32% and 5.77% industry averages. POWR Ratings Reflect This Bleak Prospects CLOV has an overall F rating, which translates to Strong Sell in our proprietary POWR Ratings system. The POWR Ratings are calculated considering 118 distinct factors, with each factor weighted to an optimal degree. The stock has a grade of D for Quality, consistent with its lower-than-industry profit margins. CLOV has an F grade for Stability. Its beta of 1.05 justifies this grade. Among the 11 stocks in the Medical - Health Insurance industry, CLOV is ranked last. Beyond what I have stated above, one can also view CLOV’s grades for Sentiment, Growth, Momentum, and Value here . View the top-rated stocks in the Medical - Health Insurance industry here . Bottom Line CLOV was tagged as a meme stock due to retail traders’ interest in it earlier this year. However, its weak fundamentals led the stock to a price pullback. The company’s weak bottom line is a concern. Analysts expect its EPS to remain negative at least until the next year. Thus, we think the stock is best avoided now. How Does Clover Health Investments, Corp. (CLOV) Stack Up Against its Peers? While CLOV has an overall POWR Rating of F, one might want to consider investing in the following Medical - Health Insurance stocks with an A (Strong Buy) rating: UnitedHealth Group Inc. ( UNH ), Anthem Inc. ( ANTM ), and Molina Healthcare Inc ( MOH ). CLOV shares rose $0.04 (+0.74%) in premarket trading Monday. Year-to-date, CLOV has declined -67.74%, versus a 23.96% rise in the benchmark S&P 500 index during the same period. About the Author: Subhasree Kar Subhasree’s keen interest in financial instruments led her to pursue a career as an investment analyst. After earning a Master’s degree in Economics, she gained knowledge of equity research and portfolio management at Finlatics.

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Research containing Clover Health

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Clover Health in 20 CB Insights research briefs, most recently on Sep 30, 2021.

Expert Collections containing Clover Health

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Clover Health is included in 6 Expert Collections, including 2018 Fintech 250.

2

2018 Fintech 250

498 items

F

Fintech for Seniors

26 items

Fintechs specifically targeting Baby Boomers and retirees.

I

InsurTech

1,644 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

V

Value-Based Care & Population Health

650 items

The VBC & Population Health collection includes companies that enable and deliver care models that address the health needs for defining populations along the continuum of care, including in the community setting, through participation, engagement, and targeted interventions.

C

Conference Exhibitors

5,302 items

F

Fintech

7,165 items

US-based companies

Clover Health Patents

Clover Health has filed 16 patents.

The 3 most popular patent topics include:

  • Data management
  • Medical terminology
  • Social networking services
patents chart

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Grant Date

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Related Topics

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7/6/2018

8/31/2021

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Clover Health Web Traffic

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Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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