American Well Co. (NYSE:AMWL) Sees Large Drop in Short Interest

American Well Co. (NYSE:AMWL) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 344,300 shares, a decrease of 20.4% from the February 28th total of 432,800 shares. Approximately 3.0% of the shares of the company are short sold. Based on an average daily volume of 69,500 shares, the short-interest ratio is presently 5.0 days.

Insiders Place Their Bets

In other American Well news, insider Phyllis Gotlib sold 4,781 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $8.80, for a total value of $42,072.80. Following the transaction, the insider now owns 147,998 shares of the company’s stock, valued at $1,302,382.40. This trade represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 5,219 shares of company stock valued at $46,454. Company insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On American Well

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. 4D Advisors LLC bought a new stake in shares of American Well in the 4th quarter worth $1,088,000. Takeda Pharmaceutical Co. Ltd. acquired a new position in American Well during the fourth quarter worth about $564,000. Senvest Management LLC raised its position in American Well by 3.9% in the fourth quarter. Senvest Management LLC now owns 1,300,611 shares of the company’s stock worth $9,429,000 after acquiring an additional 48,800 shares in the last quarter. HighTower Advisors LLC acquired a new stake in American Well in the 3rd quarter valued at about $355,000. Finally, Norges Bank bought a new position in shares of American Well during the 4th quarter valued at about $204,000. 56.05% of the stock is owned by institutional investors.

American Well Price Performance

Shares of NYSE AMWL traded up $0.02 during midday trading on Wednesday, reaching $7.19. 48,307 shares of the company traded hands, compared to its average volume of 101,051. The company has a market cap of $112.24 million, a price-to-earnings ratio of -0.51 and a beta of 1.18. The stock has a 50-day moving average price of $9.82 and a 200 day moving average price of $9.29. American Well has a 52 week low of $5.00 and a 52 week high of $17.17.

American Well (NYSE:AMWL) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($2.77) EPS for the quarter, topping analysts’ consensus estimates of ($3.04) by $0.27. American Well had a negative net margin of 81.83% and a negative return on equity of 56.73%. As a group, analysts expect that American Well will post -9.34 EPS for the current year.

Analysts Set New Price Targets

AMWL has been the subject of a number of analyst reports. Truist Financial boosted their price objective on American Well from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Wells Fargo & Company upgraded American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a research note on Monday, January 13th. Needham & Company LLC restated a “hold” rating on shares of American Well in a research report on Thursday, February 13th. Stifel Nicolaus lifted their price objective on shares of American Well from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley decreased their target price on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.90.

About American Well

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.