American Well Co. (NYSE:AMWL) Short Interest Up 42.5% in June

American Well Co. (NYSE:AMWL) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 18,270,000 shares, an increase of 42.5% from the May 31st total of 12,820,000 shares. Based on an average trading volume of 2,430,000 shares, the short-interest ratio is presently 7.5 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP raised its position in American Well by 75.5% in the third quarter. GSA Capital Partners LLP now owns 716,830 shares of the company’s stock valued at $839,000 after purchasing an additional 308,418 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of American Well during the fourth quarter valued at approximately $247,000. Quadrature Capital Ltd purchased a new position in shares of American Well during the third quarter valued at approximately $36,000. Barclays PLC lifted its holdings in American Well by 8.8% during the third quarter. Barclays PLC now owns 173,359 shares of the company’s stock worth $203,000 after acquiring an additional 14,021 shares during the period. Finally, Swiss National Bank lifted its holdings in American Well by 2.3% during the third quarter. Swiss National Bank now owns 463,200 shares of the company’s stock worth $542,000 after acquiring an additional 10,500 shares during the period. 56.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research note on Thursday, May 2nd. Morgan Stanley reduced their price objective on shares of American Well from $1.75 to $1.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. Finally, UBS Group reduced their price objective on shares of American Well from $1.50 to $0.60 and set a “neutral” rating for the company in a research report on Thursday, May 23rd.

American Well Stock Performance

Shares of AMWL traded down $0.03 during midday trading on Monday, hitting $0.29. The stock had a trading volume of 3,494,758 shares, compared to its average volume of 2,221,901. American Well has a fifty-two week low of $0.29 and a fifty-two week high of $2.47. The business has a 50-day simple moving average of $0.46 and a two-hundred day simple moving average of $0.85.

American Well’s stock is scheduled to reverse split on Thursday, July 11th. The 1-20 reverse split was announced on Thursday, July 11th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, July 11th.

American Well (NYSE:AMWL) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). American Well had a negative net margin of 137.32% and a negative return on equity of 46.76%. The firm had revenue of $59.52 million during the quarter, compared to the consensus estimate of $61.10 million. During the same period in the prior year, the business earned ($0.24) EPS. On average, equities research analysts expect that American Well will post -0.75 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.