Short Interest in American Well Co. (NYSE:AMWL) Rises By 25.7%

American Well Co. (NYSE:AMWL - Get Free Report) was the target of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 481,600 shares, an increase of 25.7% from the January 31st total of 383,100 shares. Based on an average daily trading volume, of 71,800 shares, the short-interest ratio is presently 6.7 days. Approximately 4.1% of the shares of the company are short sold.

Insider Buying and Selling

In related news, insider Phyllis Gotlib sold 4,781 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.80, for a total transaction of $42,072.80. Following the completion of the sale, the insider now directly owns 147,998 shares of the company's stock, valued at approximately $1,302,382.40. This represents a 3.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, 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 hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new stake in shares of American Well during the 3rd quarter worth about $95,000. HighTower Advisors LLC acquired a new stake in shares of American Well during the 3rd quarter worth about $355,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of American Well during the 4th quarter worth about $45,000. PDT Partners LLC acquired a new stake in shares of American Well during the 3rd quarter worth about $107,000. Finally, Walleye Capital LLC acquired a new stake in shares of American Well during the 3rd quarter worth about $167,000. Institutional investors and hedge funds own 56.05% of the company's stock.

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American Well Stock Performance

Shares of AMWL stock traded down $0.25 during mid-day trading on Friday, reaching $8.30. The company's stock had a trading volume of 50,426 shares, compared to its average volume of 75,476. American Well has a 1-year low of $5.00 and a 1-year high of $21.60. The company has a market cap of $129.56 million, a P/E ratio of -0.59 and a beta of 1.18. The firm's 50-day moving average is $9.88 and its two-hundred day moving average is $9.33.

American Well (NYSE:AMWL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($2.77) earnings per share (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%. Sell-side analysts anticipate that American Well will post -9.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMWL. Truist Financial upped their price objective on shares of American Well from $10.00 to $12.00 and gave the stock a "hold" rating in a report on Friday, February 14th. 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 report on Monday, January 13th. Needham & Company LLC reissued a "hold" rating on shares of American Well in a report on Thursday, February 13th. Stifel Nicolaus increased their price target on shares of American Well from $9.00 to $10.00 and gave the company a "hold" rating in a report on Thursday, February 13th. Finally, Morgan Stanley reduced their price target on shares of American Well from $20.00 to $10.50 and set an "equal weight" rating for the company in a report on Tuesday, December 17th. 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, the company currently has an average rating of "Hold" and an average price target of $11.90.

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.