American Well Co. (NYSE:AMWL) Sees Significant Growth in Short Interest

American Well Co. (NYSE:AMWL) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 481,600 shares, a growth of 25.7% from the January 31st total of 383,100 shares. Based on an average daily trading volume, of 71,800 shares, the short-interest ratio is presently 6.7 days. Currently, 4.1% of the shares of the stock are short sold.

Insider Transactions at American Well

In other news, insider Phyllis Gotlib sold 4,781 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.80, for a total transaction of $42,072.80. Following the completion of the sale, the insider now owns 147,998 shares of the company’s stock, valued at approximately $1,302,382.40. This represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 5,219 shares of company stock valued at $46,454 in the last quarter. Insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On American Well

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in American Well by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 147,925 shares of the company’s stock valued at $1,073,000 after acquiring an additional 922 shares during the period. Northern Trust Corp increased its position in American Well by 7.4% during the fourth quarter. Northern Trust Corp now owns 29,021 shares of the company’s stock worth $210,000 after buying an additional 1,992 shares during the last quarter. Two Sigma Investments LP grew its position in shares of American Well by 12.3% in the fourth quarter. Two Sigma Investments LP now owns 19,216 shares of the company’s stock valued at $139,000 after purchasing an additional 2,102 shares during the last quarter. Jane Street Group LLC grew its holdings in American Well by 21.9% in the 4th quarter. Jane Street Group LLC now owns 19,260 shares of the company’s stock valued at $140,000 after buying an additional 3,462 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of American Well in the 4th quarter worth approximately $45,000. 56.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on AMWL shares. Stifel Nicolaus upped their price target on American Well from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Thursday, February 13th. Wells Fargo & Company upgraded American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price target for the company in a research note on Monday, January 13th. Truist Financial increased their price objective on shares of American Well from $10.00 to $12.00 and gave the company a “hold” rating in a report on Friday, February 14th. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research report on Thursday, February 13th. Finally, Morgan Stanley lowered their price objective 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.90.

American Well Price Performance

Shares of AMWL stock traded down $0.38 during trading hours on Friday, hitting $8.17. The stock had a trading volume of 7,154 shares, compared to its average volume of 74,431. The stock’s 50 day moving average is $9.87 and its 200 day moving average is $9.33. The firm has a market capitalization of $127.53 million, a PE ratio of -0.59 and a beta of 1.18. American Well has a twelve month low of $5.00 and a twelve month high of $21.60.

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

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.