American Well (NYSE:AMWL) Shares Gap Down to $6.66

American Well Co. (NYSE:AMWL - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $6.66, but opened at $6.52. American Well shares last traded at $6.51, with a volume of 20,967 shares traded.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group cut their price target on shares of American Well from $30.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, May 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of American Well in a research note on Thursday, May 2nd. Finally, Morgan Stanley cut their price target on shares of American Well from $35.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Monday, April 15th.

American Well Trading Up 2,348.2 %

The stock's 50 day moving average price is $0.42 and its 200 day moving average price is $0.79. The firm has a market cap of $2.42 billion, a PE ratio of -6.59 and a beta of 1.03.

American Well (NYSE:AMWL - Get Free Report) last issued its earnings results on Wednesday, May 1st. The company reported ($5.00) EPS for the quarter, missing analysts' consensus estimates of ($3.60) by ($1.40). American Well had a negative net margin of 137.32% and a negative return on equity of 46.76%. The business had revenue of $59.52 million during the quarter, compared to analysts' expectations of $61.10 million. During the same period in the prior year, the business posted ($4.80) EPS. Analysts forecast that American Well Co. will post -0.75 earnings per share for the current year.

Hedge Funds Weigh In On American Well

Hedge funds have recently made changes to their positions in the business. Madison Park Capital Advisors LLC purchased a new position in shares of American Well in the 4th quarter valued at $34,000. Oak Thistle LLC acquired a new stake in American Well during the 1st quarter valued at $46,000. RPO LLC acquired a new stake in American Well during the 4th quarter valued at $85,000. Tower Research Capital LLC TRC grew its holdings in American Well by 520.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 73,945 shares of the company's stock valued at $110,000 after purchasing an additional 62,019 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in American Well by 58.3% during the 4th quarter. SG Americas Securities LLC now owns 107,696 shares of the company's stock valued at $160,000 after purchasing an additional 39,655 shares in the last quarter. Hedge funds and other institutional investors own 56.05% of the company's stock.

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.