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

American Well Co. (NYSE:AMWL) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 383,100 shares, an increase of 7.9% from the January 15th total of 355,000 shares. Based on an average daily trading volume, of 58,900 shares, the short-interest ratio is presently 6.5 days. Approximately 3.3% of the shares of the stock are short sold.

American Well Price Performance

Shares of AMWL stock traded up $0.28 during trading hours on Tuesday, reaching $12.44. 30,594 shares of the company were exchanged, compared to its average volume of 67,898. American Well has a fifty-two week low of $5.00 and a fifty-two week high of $26.40. The stock’s fifty day moving average is $9.36 and its two-hundred day moving average is $9.19. The company has a market cap 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 quarterly earnings results on Wednesday, February 12th. The company reported ($2.77) earnings per share for the quarter, topping 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%. On average, research analysts anticipate that American Well will post -13.38 earnings per share for the current year.

Institutional Investors Weigh In On American Well

Institutional investors and hedge funds have recently modified their holdings of the business. Compagnie Lombard Odier SCmA bought a new stake in shares of American Well during the fourth quarter worth approximately $45,000. OMERS ADMINISTRATION Corp bought a new stake in shares of American Well during the fourth quarter worth approximately $76,000. BNP Paribas Financial Markets bought a new stake in shares of American Well during the third quarter worth approximately $95,000. PDT Partners LLC bought a new stake in shares of American Well during the third quarter worth approximately $107,000. Finally, Corton Capital Inc. bought a new stake in shares of American Well during the fourth quarter worth approximately $134,000. 56.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMWL. Wells Fargo & Company upgraded shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research report on Monday, January 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 research 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 company a “hold” rating in a research report on Thursday, February 13th. Truist Financial upped their target price on shares of American Well from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of American Well in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, American Well has a consensus rating of “Hold” and a consensus price target of $11.90.

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.