American Well Corporation (NYSE:AMWL) Short Interest Up 109.8% in February

American Well Corporation (NYSE:AMWL) saw a large increase in short interest in February. As of February 13th, there was short interest totaling 345,059 shares, an increase of 109.8% from the January 29th total of 164,468 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average trading volume of 211,717 shares, the days-to-cover ratio is presently 1.6 days. Based on an average trading volume of 211,717 shares, the days-to-cover ratio is presently 1.6 days. Approximately 2.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AMWL shares. Stifel Nicolaus reduced their target price on shares of American Well from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Friday, February 13th. Morgan Stanley dropped their price target on shares of American Well from $10.50 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, December 18th. Wells Fargo & Company cut their target price on American Well from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of American Well in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded American Well from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, American Well has a consensus rating of “Hold” and a consensus price target of $7.42.

Insiders Place Their Bets

In related news, insider Dmitry Zamansky sold 6,243 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $4.85, for a total transaction of $30,278.55. Following the completion of the sale, the insider directly owned 191,468 shares in the company, valued at approximately $928,619.80. The trade was a 3.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 14,633 shares of company stock worth $67,972 in the last ninety days. Corporate insiders own 11.82% of the company’s stock.

Hedge Funds Weigh In On American Well

Several institutional investors have recently bought and sold shares of AMWL. NewEdge Advisors LLC acquired a new stake in American Well in the fourth quarter valued at $82,000. XTX Topco Ltd purchased a new stake in American Well during the fourth quarter worth about $215,000. Occudo Quantitative Strategies LP acquired a new position in American Well during the fourth quarter worth about $74,000. Squarepoint Ops LLC lifted its position in shares of American Well by 74.5% during the 4th quarter. Squarepoint Ops LLC now owns 115,061 shares of the company’s stock valued at $565,000 after acquiring an additional 49,135 shares during the period. Finally, Whetstone Capital Advisors LLC purchased a new stake in shares of American Well during the 4th quarter worth approximately $123,000. 56.05% of the stock is owned by institutional investors and hedge funds.

American Well Trading Down 2.4%

AMWL stock traded down $0.14 on Friday, hitting $5.61. The company’s stock had a trading volume of 3,572 shares, compared to its average volume of 111,648. The stock has a market cap of $92.85 million, a price-to-earnings ratio of -0.94 and a beta of 1.36. The firm has a 50 day moving average of $4.87 and a two-hundred day moving average of $5.34. American Well has a 1 year low of $3.71 and a 1 year high of $10.12.

American Well (NYSE:AMWL) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($1.52) EPS for the quarter, beating the consensus estimate of ($1.59) by $0.07. The firm had revenue of $55.31 million during the quarter, compared to the consensus estimate of $52.71 million. American Well had a negative return on equity of 35.33% and a negative net margin of 38.38%. As a group, equities analysts forecast that American Well will post -9.34 EPS for the current fiscal year.

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.