American Well Corporation (NYSE:AMWL) Sees Large Increase in Short Interest

American Well Corporation (NYSE:AMWL) was the target of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 345,059 shares, an increase of 109.8% from the January 29th total of 164,468 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average daily trading volume, of 211,717 shares, the short-interest ratio is currently 1.6 days. Based on an average daily trading volume, of 211,717 shares, the short-interest ratio is currently 1.6 days. Currently, 2.4% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMWL. Wells Fargo & Company decreased their price target on shares of American Well from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (e+)” rating on shares of American Well in a research note on Wednesday, January 21st. Wall Street Zen raised American Well from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Stifel Nicolaus cut their price target on American Well from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Friday, February 13th. Finally, Morgan Stanley reduced their price objective on American Well from $10.50 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.42.

American Well Stock Down 1.8%

AMWL stock traded down $0.10 during mid-day trading on Friday, reaching $5.65. 22,959 shares of the company traded hands, compared to its average volume of 146,653. The firm’s 50 day moving average price is $4.89 and its 200 day moving average price is $5.32. The stock has a market cap of $93.49 million, a price-to-earnings ratio of -0.95 and a beta of 1.36. American Well has a fifty-two week low of $3.71 and a fifty-two week high of $10.12.

American Well (NYSE:AMWL) last posted its earnings results on Thursday, February 12th. The company reported ($1.52) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $55.31 million during the quarter, compared to analyst estimates of $52.71 million. On average, analysts anticipate that American Well will post -9.34 EPS for the current fiscal year.

Insider Buying and Selling

In other American Well news, insider Dmitry Zamansky sold 6,243 shares of the stock in a transaction dated 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 sale, the insider directly owned 191,468 shares in the company, valued at approximately $928,619.80. This trade represents a 3.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 14,633 shares of company stock worth $67,972 over the last quarter. Corporate insiders own 11.82% of the company’s stock.

Hedge Funds Weigh In On American Well

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Corton Capital Inc. lifted its stake in shares of American Well by 71.7% during the 2nd quarter. Corton Capital Inc. now owns 27,402 shares of the company’s stock valued at $244,000 after buying an additional 11,445 shares in the last quarter. XTX Topco Ltd purchased a new position in American Well in the 4th quarter valued at approximately $215,000. NewEdge Advisors LLC bought a new stake in American Well during the 4th quarter valued at $82,000. GSA Capital Partners LLP bought a new stake in American Well during the 3rd quarter valued at $173,000. Finally, Monaco Asset Management SAM bought a new stake in American Well during the 4th quarter valued at $338,000. 56.05% of the stock is owned by hedge funds and other institutional investors.

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.