American Well Corporation (NYSE:AMWL) Receives Average Recommendation of “Hold” from Analysts

Shares of American Well Corporation (NYSE:AMWL) have received an average rating of “Hold” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $7.4167.

AMWL has been the topic of several recent research reports. Morgan Stanley cut their price objective on shares of American Well from $10.50 to $6.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 18th. Weiss Ratings restated a “sell (e+)” rating on shares of American Well in a research note on Wednesday, January 21st. Wall Street Zen cut American Well from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Finally, Stifel Nicolaus reduced their price objective on American Well from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Friday, February 13th.

American Well Price Performance

Shares of NYSE AMWL opened at $5.68 on Friday. The firm has a market capitalization of $93.98 million, a PE ratio of -0.95 and a beta of 1.34. American Well has a 1-year low of $3.71 and a 1-year high of $9.15. The business’s fifty day moving average price is $5.09 and its two-hundred day moving average price is $5.17.

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

Insiders Place Their Bets

In other American Well news, insider Dmitry Zamansky sold 6,243 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $4.85, for a total transaction of $30,278.55. Following the completion of the transaction, the insider owned 191,468 shares in the company, valued at approximately $928,619.80. The trade was a 3.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 10,334 shares of company stock worth $50,120. 11.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Rock Point Advisors LLC raised its stake in shares of American Well by 49.3% during the third quarter. Rock Point Advisors LLC now owns 259,171 shares of the company’s stock valued at $1,594,000 after purchasing an additional 85,581 shares in the last quarter. Monaco Asset Management SAM bought a new position in American Well in the 4th quarter valued at about $338,000. Squarepoint Ops LLC grew its position in American Well by 74.5% in the 4th quarter. Squarepoint Ops LLC now owns 115,061 shares of the company’s stock valued at $565,000 after buying an additional 49,135 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in American Well by 280.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock valued at $510,000 after buying an additional 47,745 shares during the period. Finally, Jane Street Group LLC raised its position in shares of American Well by 232.9% during the 1st quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock worth $505,000 after buying an additional 44,852 shares in the last quarter. 56.05% of the stock is owned by institutional investors and hedge funds.

About American Well

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.