American Well (NYSE:AMWL) Given Hold Rating at Needham & Company LLC

American Well (NYSE:AMWL)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports.

Other analysts have also issued research reports about the stock. Morgan Stanley boosted their price target on shares of American Well from $6.00 to $6.50 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Well in a report on Friday, July 17th. Truist Financial set a $7.50 target price on shares of American Well in a report on Monday, June 8th. TD Cowen increased their target price on American Well from $5.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company raised their price target on American Well from $9.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, American Well has a consensus rating of “Hold” and an average price target of $8.60.

American Well Stock Performance

Shares of AMWL opened at $10.44 on Wednesday. The business has a 50-day moving average of $9.69 and a 200 day moving average of $7.16. American Well has a fifty-two week low of $3.71 and a fifty-two week high of $13.45. The firm has a market cap of $172.78 million, a P/E ratio of -1.93 and a beta of 1.68.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.27. The business had revenue of $52.05 million for the quarter, compared to analysts’ expectations of $49.87 million. American Well had a negative return on equity of 32.11% and a negative net margin of 37.02%. As a group, research analysts predict that American Well will post -2.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Phyllis Gotlib sold 6,677 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $9.33, for a total value of $62,296.41. Following the completion of the transaction, the insider directly owned 152,754 shares in the company, valued at approximately $1,425,194.82. The trade was a 4.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dmitry Zamansky sold 8,460 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.33, for a total value of $78,931.80. Following the completion of the transaction, the insider owned 232,620 shares of the company’s stock, valued at $2,170,344.60. The trade was a 3.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,225 shares of company stock worth $268,623 in the last ninety days. 12.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On American Well

Hedge funds have recently made changes to their positions in the business. Senvest Management LLC boosted its stake in shares of American Well by 213.3% in the 1st quarter. Senvest Management LLC now owns 1,136,558 shares of the company’s stock valued at $5,978,000 after purchasing an additional 773,834 shares in the last quarter. Monaco Asset Management SAM bought a new position in shares of American Well during the 4th quarter valued at $338,000. Squarepoint Ops LLC raised its position in American Well by 74.5% in the 4th quarter. Squarepoint Ops LLC now owns 115,061 shares of the company’s stock worth $565,000 after purchasing an additional 49,135 shares during the period. Goldman Sachs Group Inc. raised its position in American Well by 280.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock worth $510,000 after purchasing an additional 47,745 shares during the period. Finally, Jane Street Group LLC lifted its stake in American Well by 232.9% in the first quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock worth $505,000 after purchasing an additional 44,852 shares during the last quarter. 56.05% of the stock is currently owned by institutional investors.

About American Well

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.