Clover Health Investments, Corp. CLOV shares are trading higher Tuesday. A recent analyst price target change and a quarterly report were two of the catalysts moving the stock during the month.
What To Know: Clover Health Investments reported second-quarter results earlier in the month. The company reported quarterly sales of $513.63 million which beat the analyst consensus estimate of $490.82 million, a 39.34% decrease over sales of $846.70 million the same period last year.
The company also issued full-year 2023 EBITDA guidance in a range between losses of $70 million and $120 million, versus the previous estimate of losses between $125 million and $175 million.
Clover also rose after Citigroup analyst Jason Cassorla maintained the company with a Neutral and raised the price target from $1 to $1.5 on Aug. 11.
The stock is up 43.85% over the past three months.
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CLOV Price Action: Shares of CLOV were up 12.2% at $1.38 at the time of publication, according to Benzinga Pro.
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