American Well Co. (NYSE:AMWL) Sees Large Drop in Short Interest

American Well Co. (NYSE:AMWL) was the target of a large decrease in short interest in 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 trading volume of 69,500 shares, the short-interest ratio is presently 5.0 days. Approximately 3.0% of the company’s shares are short sold.

American Well Price Performance

Shares of AMWL stock traded down $0.72 during mid-day trading on Tuesday, hitting $7.16. 130,124 shares of the stock traded hands, compared to its average volume of 102,274. American Well has a 52-week low of $5.00 and a 52-week high of $17.17. The stock has a market cap of $111.77 million, a P/E ratio of -0.51 and a beta of 1.18. The stock’s fifty day moving average is $9.90 and its two-hundred day moving average is $9.31.

American Well (NYSE:AMWL) last posted its earnings results on Wednesday, February 12th. The company reported ($2.77) EPS for the quarter, beating analysts’ consensus estimates of ($3.04) by $0.27. American Well had a negative net margin of 81.83% and a negative return on equity of 56.73%. As a group, equities analysts forecast that American Well will post -9.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AMWL shares. Morgan Stanley lowered their target price on American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Stifel Nicolaus upped their price objective 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. Needham & Company LLC restated a “hold” rating on shares of American Well in a report on Thursday, February 13th. Wells Fargo & Company raised shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price target for the company in a research report on Monday, January 13th. Finally, Truist Financial lifted their price objective on shares of American Well from $10.00 to $12.00 and gave the company a “hold” rating in a report on Friday, February 14th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.90.

Insiders Place Their Bets

In related news, insider Phyllis Gotlib sold 4,781 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.80, for a total value of $42,072.80. Following the completion of the sale, the insider now owns 147,998 shares in the company, valued at approximately $1,302,382.40. The trade was a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 5,219 shares of company stock worth $46,454 in the last three months. Corporate insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Compagnie Lombard Odier SCmA purchased a new stake in American Well in the fourth quarter valued at about $45,000. OMERS ADMINISTRATION Corp acquired a new position in shares of American Well during the fourth quarter valued at about $76,000. Chancellor Financial Group WB LP purchased a new position in shares of American Well in the 4th quarter valued at approximately $83,000. BNP Paribas Financial Markets acquired a new stake in American Well in the 3rd quarter worth approximately $95,000. Finally, PDT Partners LLC purchased a new stake in American Well during the 3rd quarter worth approximately $107,000. 56.05% of the stock is currently owned by hedge funds and other institutional investors.

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.