22.1 C
New York
Tuesday, May 17, 2022

Clover Health Investments, Corp. (CLOV) Stock on Precipitous Rise, Here’s Why

Clover Health Investments, Corp. (CLOV), a medicare advantage insurer, has surged 14.93% in aftermarket trading session. As a result, the stock is trading at $2.31 at the time of the writing. During Wednesday’s mid-day session, the stock slightly decreased by 1.47% and closed the day at $2.01. The surge in aftermarket could be attributed to the announcement of financial results.

Q4 2021 Results

On Wednesday, CLOV announced the results for Q4 2021 as well as for FY 2021. The period under discussion ended on 31st December 2021. The total revenue for Q4 2021 was $432 million compared to $166 million for Q4 2020. The net loss for the fourth quarter of 2021 was $187 million against $126 million for the fourth quarter of 2020. The total revenue generated by the company during FY 2021 was $1.4 billion compared to the $627.9 million it generated in FY 2020. The company suffered a net loss of $587.8 million in FY 2021 against $136.4 million in Q4 2020.


Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .

Sponsored


Outlook for FY 2022

Alongside the financial results, CLOV also reported the outlook for FY 2022. The company expects total revenues to lie in a range of $3 to $3.4 billion. The Non-GAAP adjusted operating expenses for the full year 2022 are expected to lie between $330 and $345 million. The non-GAAP adjusted operating expenses as a percentage of total revenue are expected to remain between 10% and 12% against 18% in FY 2021.

Comments from CLOV CEO

Vivek Garipalli, CEO of CLOV, commented that the company is excited about its current position and the glittering prospects of its success in upcoming quarters. For the fiscal year 2022, the company expects a significant amount of growth in its revenue. Meanwhile, it believes that it is driving towards operational efficiency and is also improving MCRs.

What Future Holds in Store for CLOV?

Looking ahead, analysts are holding a negative evaluation of the stock because they believe that CLOV holds several negative technical signals at this point, and hence, is expected to perform poorly in the next few days. So, potential investors should take a careful decision regarding investment in CLOV stock.

Related Videos

Latest news

Related news

Related Videos

LEAVE A REPLY

Please enter your comment!
Please enter your name here