American Well Corporation (NYSE:AMWL) Given Consensus Recommendation of “Hold” by Analysts

American Well Corporation (NYSE:AMWL) has been given a consensus rating of “Hold” by the eight research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $7.4167.

Several analysts have issued reports on AMWL shares. Weiss Ratings restated a “sell (e+)” rating on shares of American Well in a research note on Wednesday, January 21st. Morgan Stanley decreased their target price on American Well from $10.50 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, December 18th. Wall Street Zen downgraded American Well from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Finally, Stifel Nicolaus dropped their price target on American Well from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Friday, February 13th.

American Well Price Performance

Shares of AMWL stock opened at $5.68 on Friday. The firm has a fifty day moving average of $5.09 and a two-hundred day moving average of $5.17. The firm has a market cap of $93.98 million, a P/E ratio of -0.95 and a beta of 1.34. American Well has a 1-year low of $3.71 and a 1-year high of $9.15.

American Well (NYSE:AMWL) last issued its earnings results on Thursday, February 12th. The company reported ($1.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.07. American Well had a negative net margin of 38.38% and a negative return on equity of 35.33%. The business had revenue of $55.31 million for the quarter, compared to analyst estimates of $52.71 million. On average, sell-side analysts expect that American Well will post -9.34 EPS for the current year.

Insiders Place Their Bets

In other American Well news, insider Dmitry Zamansky sold 6,243 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $4.85, for a total transaction of $30,278.55. Following the sale, the insider directly owned 191,468 shares of the company’s stock, valued at approximately $928,619.80. This represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 10,334 shares of company stock worth $50,120 in the last three months. 11.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Investments LP raised its stake in American Well by 22.6% during the third 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 period. State Street Corp boosted its stake in American Well by 7.8% in the fourth quarter. State Street Corp now owns 52,299 shares of the company’s stock valued at $257,000 after acquiring an additional 3,800 shares during the period. Norges Bank bought a new position in shares of American Well during the second quarter valued at approximately $250,000. Hsbc Holdings PLC grew its holdings in shares of American Well by 186.6% during the fourth quarter. Hsbc Holdings PLC now owns 46,565 shares of the company’s stock valued at $224,000 after purchasing an additional 30,316 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of American Well during the 4th quarter worth approximately $215,000. 56.05% of the stock is owned by institutional investors and hedge funds.

American Well Company Profile

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.