American Well Corporation (NYSE:AMWL) Short Interest Update

American Well Corporation (NYSE:AMWL) saw a large growth in short interest in March. As of March 31st, there was short interest totaling 310,783 shares, a growth of 20.4% from the March 15th total of 258,208 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily volume of 38,138 shares, the short-interest ratio is currently 8.1 days.

American Well Stock Performance

AMWL stock traded down $0.08 during trading on Friday, reaching $6.11. The company had a trading volume of 58,479 shares, compared to its average volume of 53,317. The firm has a 50-day simple moving average of $5.46 and a 200-day simple moving average of $5.04. The company has a market cap of $101.17 million, a price-to-earnings ratio of -1.03 and a beta of 1.39. American Well has a twelve month low of $3.71 and a twelve month high of $9.15.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($1.52) EPS for the quarter, beating the consensus estimate of ($1.59) by $0.07. American Well had a negative net margin of 38.38% and a negative return on equity of 35.33%. The business had revenue of $55.31 million during the quarter, compared to analysts’ expectations of $52.71 million. Sell-side analysts expect that American Well will post -9.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMWL shares. Stifel Nicolaus lowered their target price on shares of American Well from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Friday, February 13th. Wall Street Zen upgraded shares of American Well from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of American Well in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, American Well presently has a consensus rating of “Hold” and a consensus target price of $7.40.

Insider Buying and Selling

In related news, insider Dmitry Zamansky sold 5,575 shares of American Well stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $5.30, for a total value of $29,547.50. Following the completion of the sale, the insider directly owned 241,080 shares in the company, valued at $1,277,724. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 9,664 shares of company stock valued at $51,219. 11.82% of the stock is owned by company insiders.

Institutional Trading of American Well

Institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in American Well during the 2nd quarter valued at approximately $39,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in American Well during the 3rd quarter valued at approximately $62,000. Engineers Gate Manager LP acquired a new stake in American Well during the 2nd quarter valued at approximately $101,000. Prelude Capital Management LLC acquired a new stake in American Well during the 3rd quarter valued at approximately $86,000. Finally, JPMorgan Chase & Co. lifted its stake in American Well by 16.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock valued at $131,000 after acquiring an additional 2,081 shares during the period. 56.05% of the stock is currently owned by institutional investors and hedge funds.

American Well Company Profile

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.