ALHC - Clover Health ends winning streak as BofA downgrades on valuation

Vadzim Kushniarou/iStock via Getty Images After a ~153.4% rise in value over the past five days, Clover Health ([[CLOV]] -10.3%) has lost nearly a tenth of its value so far today after Bank of America downgraded the stock to underperform from neutral.  The price target maintained at $10.00 per share implies a downside of ~54.9% to the last close.  The analyst Kevin Fischbeck and the team note that the company is currently trading at a 70% premium to its closest peer, Alignment Healthcare ([[ALHC]] -1.4%) despite having “a similar growth profile and lower near term margin trajectory.”  “The current growth trajectory does not support the valuation,” the analysts wrote even though they expect the company to grow faster than the Medicare Advantage market amid the value generated by Clover Assistant and its support for cost reduction. Clover Health with more than a third of its float on loan is mentioned as

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Clover Health ends winning streak as BofA downgrades on valuation