American Well Co. (NYSE:AMWL) Short Interest Update

American Well Co. (NYSE:AMWL - Get Free Report) was the target of a large decrease in short interest during the month of 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 daily trading volume, of 69,500 shares, the days-to-cover ratio is presently 5.0 days. Approximately 3.0% of the company's stock are short sold.

American Well Stock Down 3.2 %

American Well stock traded down $0.22 during trading on Friday, hitting $6.59. The stock had a trading volume of 33,767 shares, compared to its average volume of 99,642. The stock's 50 day moving average is $9.68 and its two-hundred day moving average is $9.26. American Well has a 1 year low of $5.00 and a 1 year high of $17.17. The stock has a market cap of $102.87 million, a price-to-earnings ratio of -0.47 and a beta of 1.22.

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

Insider Activity at American Well

In other 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 value of $42,072.80. Following the completion of the sale, the insider now owns 147,998 shares in the company, valued at $1,302,382.40. This represents a 3.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 5,219 shares of company stock valued at $46,454. 12.80% of the stock is owned by insiders.

Institutional Investors Weigh In On American Well

A number of hedge funds and other institutional investors have recently bought and sold shares of AMWL. BNP Paribas Financial Markets purchased a new position in shares of American Well in the third quarter valued at $95,000. HighTower Advisors LLC bought a new stake in shares of American Well during the third quarter valued at about $355,000. Takeda Pharmaceutical Co. Ltd. purchased a new stake in shares of American Well in the fourth quarter worth about $564,000. Compagnie Lombard Odier SCmA bought a new position in shares of American Well in the fourth quarter valued at approximately $45,000. Finally, PDT Partners LLC purchased a new position in American Well during the third quarter valued at approximately $107,000. Institutional investors own 56.05% of the company's stock.

Analyst Ratings Changes

AMWL has been the subject of a number of recent analyst reports. Morgan Stanley reduced their price objective on shares of American Well from $20.00 to $10.50 and set an "equal weight" rating for the company in a research report on Tuesday, December 17th. Needham & Company LLC reaffirmed a "hold" rating on shares of American Well in a report on Thursday, February 13th. Stifel Nicolaus lifted their price target on 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 raised American Well from an "equal weight" rating to an "overweight" rating and set a $15.00 price objective on the stock in a research report on Monday, January 13th. Finally, Truist Financial raised their target price on American Well from $10.00 to $12.00 and gave the company a "hold" rating in a research report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, American Well presently has an average rating of "Hold" and a consensus target price 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.