Morgan Stanley Has Lowered Expectations for American Well (NYSE:AMWL) Stock Price

American Well (NYSE:AMWL) had its price objective cut by stock analysts at Morgan Stanley from $10.50 to $6.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 26.82% from the company’s previous close.

Several other research firms have also recently commented on AMWL. Wells Fargo & Company decreased their price target on shares of American Well from $12.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Stifel Nicolaus decreased their target price on shares of American Well from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 5th. Wall Street Zen downgraded shares of American Well from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of American Well in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.58.

American Well Stock Up 0.7%

Shares of AMWL traded up $0.03 during mid-day trading on Thursday, reaching $4.73. The company’s stock had a trading volume of 46,527 shares, compared to its average volume of 74,449. American Well has a 1 year low of $3.71 and a 1 year high of $12.95. The company has a market cap of $77.45 million, a price-to-earnings ratio of -0.66 and a beta of 1.28. The business has a fifty day moving average of $4.67 and a 200 day moving average of $6.35.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($1.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.83) by $0.09. American Well had a negative return on equity of 39.80% and a negative net margin of 42.80%.The firm had revenue of $56.29 million during the quarter, compared to the consensus estimate of $54.56 million. On average, analysts predict that American Well will post -9.34 earnings per share for the current year.

Insider Buying and Selling at American Well

In related news, insider Phyllis Gotlib sold 4,959 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $6.11, for a total value of $30,299.49. Following the completion of the sale, the insider directly owned 127,151 shares in the company, valued at approximately $776,892.61. The trade was a 3.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 8,978 shares of company stock valued at $47,297. 11.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On American Well

A number of institutional investors have recently modified their holdings of AMWL. Prelude Capital Management LLC bought a new stake in shares of American Well during the 3rd quarter worth $86,000. Two Sigma Investments LP lifted its position in American Well by 22.6% during the 3rd quarter. Two Sigma Investments LP now owns 46,329 shares of the company’s stock worth $285,000 after acquiring an additional 8,553 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in American Well by 61.3% during the third quarter. Squarepoint Ops LLC now owns 65,926 shares of the company’s stock valued at $405,000 after acquiring an additional 25,054 shares during the period. Dimensional Fund Advisors LP grew its position in shares of American Well by 36.0% in the third quarter. Dimensional Fund Advisors LP now owns 97,382 shares of the company’s stock valued at $599,000 after purchasing an additional 25,798 shares during the last quarter. Finally, Rock Point Advisors LLC increased its stake in shares of American Well by 49.3% in the third quarter. Rock Point Advisors LLC now owns 259,171 shares of the company’s stock worth $1,594,000 after purchasing an additional 85,581 shares during the period. 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.