American Well Co. (NYSE:AMWL) Short Interest Update

American Well Co. (NYSE:AMWL) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 344,300 shares, a decline of 20.4% from the February 28th total of 432,800 shares. Based on an average trading volume of 69,500 shares, the short-interest ratio is currently 5.0 days. Approximately 3.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMWL. Morgan Stanley reduced their price target on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Stifel Nicolaus boosted their price objective on shares of American Well from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a research note on Thursday, February 13th. Wells Fargo & Company upgraded shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a report on Monday, January 13th. Finally, Truist Financial increased their target price on American Well from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, American Well currently has a consensus rating of “Hold” and an average target price of $11.90.

Insider Buying and Selling

In other American Well news, insider Phyllis Gotlib sold 4,781 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.80, for a total transaction of $42,072.80. Following the completion of the sale, the insider now directly owns 147,998 shares in the company, valued at $1,302,382.40. The trade was a 3.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 5,219 shares of company stock worth $46,454 in the last three months. Insiders own 12.80% of the company’s stock.

Institutional Trading of American Well

A number of large investors have recently modified their holdings of the stock. Senvest Management LLC increased its holdings in American Well by 3.9% during the 4th quarter. Senvest Management LLC now owns 1,300,611 shares of the company’s stock worth $9,429,000 after purchasing an additional 48,800 shares during the period. 4D Advisors LLC purchased a new stake in shares of American Well during the fourth quarter worth approximately $1,088,000. Geode Capital Management LLC lifted its stake in American Well by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 147,925 shares of the company’s stock worth $1,073,000 after acquiring an additional 922 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in American Well by 39.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 96,741 shares of the company’s stock worth $701,000 after acquiring an additional 27,343 shares in the last quarter. Finally, Takeda Pharmaceutical Co. Ltd. purchased a new stake in shares of American Well in the 4th quarter valued at approximately $564,000. Hedge funds and other institutional investors own 56.05% of the company’s stock.

American Well Stock Down 2.4 %

American Well stock opened at $7.90 on Monday. The company has a fifty day simple moving average of $9.93 and a 200-day simple moving average of $9.32. The firm has a market capitalization of $123.30 million, a price-to-earnings ratio of -0.56 and a beta of 1.18. American Well has a 52-week low of $5.00 and a 52-week high of $17.17.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($2.77) earnings per share for the quarter, beating the consensus estimate of ($3.04) by $0.27. American Well had a negative net margin of 81.83% and a negative return on equity of 56.73%. On average, research analysts anticipate that American Well will post -9.34 EPS for the current fiscal year.

American Well Company Profile

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Converge, a cloud-based platform that enables health providers, payers, and innovators to provide in-person, virtual and automated care; and delivers virtual primary care, post-discharge follow-up, chronic condition management, virtual nursing, e-sitting, on-demand and scheduled virtual visits, specialty consults, automated care, and behavioral health, as well as specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care to patients and members.