American Well Co. (NYSE:AMWL) Short Interest Down 20.4% in March

American Well Co. (NYSE:AMWL) saw a large 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. Based on an average daily trading volume, of 69,500 shares, the short-interest ratio is presently 5.0 days. Currently, 3.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of research analysts recently commented on AMWL shares. Needham & Company LLC reissued a “hold” rating on shares of American Well in a report on Thursday, February 13th. Morgan Stanley reduced their price target on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Stifel Nicolaus boosted their price target on shares of 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 objective for the company in a research report on Monday, January 13th. Finally, Truist Financial boosted their target price on American Well from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.90.

Insider Buying and Selling

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 stock was sold at an average price of $8.80, for a total transaction of $42,072.80. Following the sale, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders 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 large investors have recently made changes to their positions in AMWL. Geode Capital Management LLC raised its position in American Well by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 147,925 shares of the company’s stock worth $1,073,000 after purchasing an additional 922 shares during the period. Northern Trust Corp raised its holdings in shares of American Well by 7.4% in 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 period. Two Sigma Investments LP lifted its stake in shares of American Well by 12.3% during the 4th quarter. Two Sigma Investments LP now owns 19,216 shares of the company’s stock worth $139,000 after acquiring an additional 2,102 shares during the last quarter. Jane Street Group LLC grew its position 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 acquiring an additional 3,462 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA purchased a new stake in American Well in the fourth quarter worth $45,000. 56.05% of the stock is owned by hedge funds and other institutional investors.

American Well Stock Down 9.1 %

AMWL traded down $0.72 on Tuesday, hitting $7.16. The company had a trading volume of 130,124 shares, compared to its average volume of 102,274. American Well has a 12-month low of $5.00 and a 12-month high of $17.17. The business’s fifty day simple moving average is $9.90 and its 200 day simple moving average is $9.31. The company has a market cap of $111.77 million, a PE ratio of -0.51 and a beta of 1.18.

American Well (NYSE:AMWL) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($2.77) earnings per share 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%. On average, analysts anticipate that American Well will post -9.34 earnings per share for the current fiscal 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.