American Well Corporation (NYSE:AMWL) Given Consensus Recommendation of “Hold” by Brokerages

Shares of American Well Corporation (NYSE:AMWL) have been given an average recommendation of “Hold” by the eight research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.5833.

A number of brokerages recently commented on AMWL. Weiss Ratings restated a “sell (e+)” rating on shares of American Well in a research report on Wednesday, January 21st. Wells Fargo & Company cut their price objective on American Well from $12.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Morgan Stanley decreased their target price 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. Stifel Nicolaus cut their price target on shares of American Well from $8.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. Finally, Wall Street Zen cut shares of American Well from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th.

American Well Price Performance

NYSE:AMWL opened at $4.25 on Friday. The firm’s fifty day moving average price is $4.62 and its 200 day moving average price is $5.64. American Well has a 1-year low of $3.71 and a 1-year high of $12.95. The firm has a market cap of $69.49 million, a price-to-earnings ratio of -0.59 and a beta of 1.36.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($1.74) EPS for the quarter, topping analysts’ consensus estimates of ($1.83) by $0.09. The company had revenue of $56.29 million during the quarter, compared to the consensus estimate of $54.56 million. American Well had a negative net margin of 42.80% and a negative return on equity of 39.80%. As a group, analysts expect that American Well will post -9.34 earnings per share for the current fiscal year.

Insider Activity at American Well

In related news, insider Dmitry Zamansky sold 6,243 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $4.85, for a total value of $30,278.55. Following the sale, the insider owned 191,468 shares in the company, valued at $928,619.80. This represents a 3.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 14,633 shares of company stock worth $67,972. 11.82% of the stock is owned by insiders.

Institutional Trading of American Well

Institutional investors have recently bought and sold shares of the company. Corton Capital Inc. boosted its position in shares of American Well by 71.7% in the 2nd quarter. Corton Capital Inc. now owns 27,402 shares of the company’s stock worth $244,000 after buying an additional 11,445 shares in the last quarter. Norges Bank acquired a new position in American Well during the second quarter worth about $250,000. JPMorgan Chase & Co. lifted its holdings in shares of American Well by 16.5% in the second quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock valued at $131,000 after purchasing an additional 2,081 shares in the last quarter. Jane Street Group LLC grew its position in shares of American Well by 232.9% in the first quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock valued at $505,000 after purchasing an additional 44,852 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of American Well by 280.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock worth $510,000 after purchasing an additional 47,745 shares in the last quarter. 56.05% of the stock is currently owned by hedge funds and other institutional investors.

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.