American Well (NYSE:AMWL) Price Target Cut to $7.50 by Analysts at Truist Financial

American Well (NYSE:AMWL) had its target price decreased by Truist Financial from $12.00 to $7.50 in a report released on Thursday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other research firms have also weighed in on AMWL. Stifel Nicolaus raised their target price on American Well from $9.00 to $10.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Wells Fargo & Company upgraded American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a research note on Monday, January 13th. Morgan Stanley reduced their target price on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of American Well in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

American Well Stock Up 1.4 %

Shares of AMWL opened at $7.27 on Thursday. The business’s fifty day moving average is $9.09 and its 200 day moving average is $9.10. American Well has a 12-month low of $5.00 and a 12-month high of $13.35. The stock has a market cap of $113.53 million, a P/E ratio of -0.52 and a beta of 1.22.

American Well (NYSE:AMWL) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($2.77) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts expect that American Well will post -9.34 EPS for the current year.

Insider Buying and Selling

In other American Well news, insider Phyllis Gotlib sold 4,781 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.80, for a total value of $42,072.80. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 5,219 shares of company stock worth $46,454. Insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On American Well

Institutional investors have recently made changes to their positions in the stock. Chancellor Financial Group WB LP purchased a new position in American Well during the fourth quarter valued at approximately $83,000. Two Sigma Investments LP boosted its holdings in American Well by 12.3% in the 4th quarter. Two Sigma Investments LP now owns 19,216 shares of the company’s stock valued at $139,000 after purchasing an additional 2,102 shares during the period. Two Sigma Advisers LP grew its position in shares of American Well by 102.7% during the 4th quarter. Two Sigma Advisers LP now owns 41,045 shares of the company’s stock valued at $298,000 after purchasing an additional 20,800 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of American Well in the fourth quarter worth $76,000. Finally, Corton Capital Inc. bought a new position in shares of American Well in the fourth quarter worth $134,000. Hedge funds and other institutional investors own 56.05% of the company’s stock.

About American Well

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.