Short Interest in American Well Co. (NYSE:AMWL) Increases By 7.9%

American Well Co. (NYSE:AMWL) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 383,100 shares, a growth of 7.9% from the January 15th total of 355,000 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average trading volume of 58,900 shares, the days-to-cover ratio is currently 6.5 days.

Institutional Trading of American Well

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMWL. Compagnie Lombard Odier SCmA bought a new stake in American Well in the fourth quarter valued at about $45,000. OMERS ADMINISTRATION Corp bought a new stake in American Well in the fourth quarter valued at about $76,000. BNP Paribas Financial Markets bought a new stake in American Well in the third quarter valued at about $95,000. PDT Partners LLC bought a new stake in American Well in the third quarter valued at about $107,000. Finally, Corton Capital Inc. bought a new stake in American Well in the fourth quarter valued at about $134,000. Institutional investors own 56.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

American Well Stock Performance

Shares of NYSE:AMWL traded up $0.28 on Tuesday, hitting $12.44. 30,594 shares of the company were exchanged, compared to its average volume of 67,898. The company’s 50 day moving average price is $9.36 and its two-hundred day moving average price is $9.19. American Well has a one year low of $5.00 and a one year high of $26.40. The firm has a market capitalization of $190.58 million, a price-to-earnings ratio of -0.85 and a beta of 1.18.

American Well (NYSE:AMWL) last posted its earnings results on Wednesday, February 12th. The company reported ($2.77) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.04) by $0.27. American Well had a negative net margin of 84.27% and a negative return on equity of 52.49%. Research analysts predict that American Well will post -13.38 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.