American Well (NYSE:AMWL) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of American Well (NYSE:AMWL - Free Report) in a report issued on Thursday morning,Benzinga reports.

AMWL has been the subject of several other research reports. Wells Fargo & Company raised American Well from an "equal weight" rating to an "overweight" rating and set a $15.00 target price for the company in a research note on Monday, January 13th. Morgan Stanley cut their target price on American Well from $20.00 to $10.50 and set an "equal weight" rating for the company in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $11.90.

American Well Trading Up 3.7 %

AMWL stock traded up $0.44 during midday trading on Thursday, hitting $12.17. 239,844 shares of the company's stock were exchanged, compared to its average volume of 57,283. The business has a 50-day simple moving average of $9.31 and a two-hundred day simple moving average of $9.18. The stock has a market capitalization of $186.37 million, a PE ratio of -0.83 and a beta of 1.18. American Well has a 1-year low of $5.00 and a 1-year high of $29.00.

American Well (NYSE:AMWL - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported ($2.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.04) by $0.27. American Well had a negative return on equity of 52.49% and a negative net margin of 84.27%. As a group, research analysts expect that American Well will post -13.38 EPS for the current fiscal year.

Institutional Trading of American Well

A number of institutional investors have recently bought and sold shares of AMWL. Cubist Systematic Strategies LLC increased its position in American Well by 7,673.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company's stock valued at $60,000 after acquiring an additional 181,715 shares during the period. 4D Advisors LLC acquired a new position in American Well in the 4th quarter valued at about $1,088,000. Takeda Pharmaceutical Co. Ltd. acquired a new position in American Well in the 4th quarter valued at about $564,000. Senvest Management LLC increased its position in American Well by 3.9% in the 4th quarter. Senvest Management LLC now owns 1,300,611 shares of the company's stock valued at $9,429,000 after acquiring an additional 48,800 shares during the period. Finally, HighTower Advisors LLC acquired a new position in American Well in the 3rd quarter valued at about $355,000. 56.05% of the stock is 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.