Short Interest in American Well Corporation (NYSE:AMWL) Increases By 109.8%

American Well Corporation (NYSE:AMWL) was the recipient of a significant increase in short interest during 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. Based on an average daily volume of 211,717 shares, the short-interest ratio is presently 1.6 days. Approximately 2.4% of the shares of the stock are short sold. Approximately 2.4% of the shares of the stock are short sold. Based on an average daily volume of 211,717 shares, the short-interest ratio is presently 1.6 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lowered their price objective on American Well from $12.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of American Well in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of American Well from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Stifel Nicolaus decreased their price objective on shares of American Well from $6.00 to $5.00 and set a “hold” rating for the company in a report on Friday, February 13th. Finally, Morgan Stanley lowered their price objective 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. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.42.

American Well Price Performance

Shares of AMWL stock traded down $0.14 during mid-day trading on Friday, hitting $5.61. The company had a trading volume of 3,572 shares, compared to its average volume of 111,648. The company has a market capitalization of $92.85 million, a P/E ratio of -0.94 and a beta of 1.36. The stock’s 50 day moving average price is $4.87 and its 200-day moving average price is $5.34. American Well has a 52-week low of $3.71 and a 52-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 for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $52.71 million. On average, equities research analysts expect that American Well will post -9.34 earnings per share for the current year.

Insider Transactions at American Well

In other American Well news, insider Dmitry Zamansky sold 6,243 shares of American Well 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 transaction, the insider directly owned 191,468 shares of the company’s stock, valued at $928,619.80. The trade was a 3.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 14,633 shares of company stock valued at $67,972 over the last ninety days. 11.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Well

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of American Well by 16.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock valued at $131,000 after buying an additional 2,081 shares in the last quarter. Geode Capital Management LLC boosted its stake in American Well by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 152,742 shares of the company’s stock valued at $750,000 after acquiring an additional 3,450 shares in the last quarter. State Street Corp grew its holdings in American Well by 7.8% in the fourth quarter. State Street Corp now owns 52,299 shares of the company’s stock worth $257,000 after purchasing an additional 3,800 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of American Well during the second quarter worth $39,000. Finally, Senvest Management LLC increased its position in shares of American Well by 0.3% during the second quarter. Senvest Management LLC now owns 1,312,852 shares of the company’s stock worth $11,671,000 after purchasing an additional 4,497 shares in the last quarter. 56.05% of the stock is 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.