American Well (NYSE:AMWL) Stock Rating Reaffirmed by Needham & Company LLC

American Well (NYSE:AMWL)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports.

Separately, Morgan Stanley decreased their price objective on American Well from $1.75 to $1.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th.

American Well Trading Up 9.6 %

Shares of AMWL stock opened at $0.57 on Thursday. The firm has a market capitalization of $164.87 million, a P/E ratio of -0.47 and a beta of 1.12. American Well has a 1 year low of $0.45 and a 1 year high of $2.74. The firm’s fifty day simple moving average is $0.78 and its 200 day simple moving average is $1.06.

American Well (NYSE:AMWL) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). American Well had a negative return on equity of 46.76% and a negative net margin of 137.32%. The company had revenue of $59.52 million for the quarter, compared to the consensus estimate of $61.10 million. During the same quarter in the previous year, the firm posted ($0.24) EPS. Equities research analysts anticipate that American Well will post -0.7 EPS for the current fiscal year.

Insider Transactions at American Well

In other news, CFO Robert Shepardson sold 319,214 shares of American Well stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total value of $347,943.26. Following the completion of the sale, the chief financial officer now directly owns 2,845,148 shares of the company’s stock, valued at approximately $3,101,211.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Robert Shepardson sold 319,214 shares of American Well stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total transaction of $347,943.26. Following the completion of the sale, the chief financial officer now owns 2,845,148 shares in the company, valued at approximately $3,101,211.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vukasin Paunovich sold 251,323 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total transaction of $273,942.07. Following the sale, the executive vice president now directly owns 2,535,635 shares of the company’s stock, valued at $2,763,842.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,168,915 shares of company stock worth $1,261,161. Corporate insiders own 12.94% of the company’s stock.

Institutional Trading of American Well

Institutional investors and hedge funds have recently modified their holdings of the stock. Madison Park Capital Advisors LLC acquired a new position in American Well during the fourth quarter valued at approximately $34,000. Quadrature Capital Ltd bought a new position in shares of American Well during the third quarter worth $36,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of American Well in the 3rd quarter valued at $36,000. Principal Financial Group Inc. raised its stake in American Well by 32.1% during the 3rd quarter. Principal Financial Group Inc. now owns 34,397 shares of the company’s stock worth $40,000 after buying an additional 8,354 shares during the period. Finally, Oak Thistle LLC acquired a new position in American Well in the first quarter valued at about $46,000. 56.05% of the stock is owned by institutional investors.

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.