Analysts Set American Well Corporation (NYSE:AMWL) Target Price at $8.33

American Well Corporation (NYSE:AMWL) has been given a consensus recommendation of “Hold” by the eight brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $8.3333.

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of American Well from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Wells Fargo & Company reduced 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 report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of American Well in a report on Wednesday, October 8th. Finally, Stifel Nicolaus cut their price objective on American Well from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 5th.

Insider Buying and Selling at American Well

In other news, insider Phyllis Gotlib sold 4,959 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $6.11, for a total transaction of $30,299.49. Following the completion of the sale, the insider owned 127,151 shares of the company’s stock, valued at $776,892.61. This represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deborah C. Jackson sold 4,531 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $6.56, for a total transaction of $29,723.36. Following the completion of the transaction, the director directly owned 39,132 shares in the company, valued at approximately $256,705.92. This represents a 10.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 13,509 shares of company stock worth $77,021. 11.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American Well

A number of large investors have recently made changes to their positions in AMWL. Prelude Capital Management LLC purchased a new position in American Well during the third quarter worth approximately $86,000. Two Sigma Investments LP raised its holdings in shares of American Well by 22.6% during the 3rd quarter. Two Sigma Investments LP now owns 46,329 shares of the company’s stock worth $285,000 after acquiring an additional 8,553 shares during the period. Squarepoint Ops LLC boosted its position in shares of American Well by 61.3% during the 3rd quarter. Squarepoint Ops LLC now owns 65,926 shares of the company’s stock valued at $405,000 after acquiring an additional 25,054 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of American Well by 36.0% in the third quarter. Dimensional Fund Advisors LP now owns 97,382 shares of the company’s stock valued at $599,000 after purchasing an additional 25,798 shares during the period. Finally, Rock Point Advisors LLC grew its holdings in shares of American Well by 49.3% in the third quarter. Rock Point Advisors LLC now owns 259,171 shares of the company’s stock valued at $1,594,000 after purchasing an additional 85,581 shares during the period. 56.05% of the stock is currently owned by hedge funds and other institutional investors.

American Well Price Performance

Shares of American Well stock opened at $4.61 on Thursday. American Well has a 1 year low of $3.71 and a 1 year high of $12.95. The stock has a market cap of $75.47 million, a PE ratio of -0.64 and a beta of 1.28. The firm has a fifty day moving average price of $4.76 and a 200 day moving average price of $6.39.

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

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.