American Well Corporation (NYSE:AMWL) Short Interest Update

American Well Corporation (NYSE:AMWL) was the target of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 258,208 shares, a decrease of 15.7% from the February 26th total of 306,239 shares. Based on an average daily volume of 87,773 shares, the short-interest ratio is presently 2.9 days. Currently, 1.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMWL. Wall Street Zen upgraded American Well from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. 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 note on Friday, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of American Well in a research report on Wednesday, January 21st. Finally, Morgan Stanley dropped their price target on shares of American Well from $10.50 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 18th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, American Well presently has a consensus rating of “Hold” and an average target price of $7.42.

American Well Stock Up 1.0%

Shares of NYSE:AMWL traded up $0.05 during midday trading on Wednesday, reaching $5.31. 44,480 shares of the company traded hands, compared to its average volume of 92,656. The firm’s fifty day moving average price is $5.19 and its two-hundred day moving average price is $5.09. The firm has a market capitalization of $87.88 million, a price-to-earnings ratio of -0.89 and a beta of 1.34. American Well has a 12 month low of $3.71 and a 12 month high of $9.15.

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

Insider Transactions at American Well

In other American Well news, insider Dmitry Zamansky sold 6,243 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $4.85, for a total value of $30,278.55. Following the completion of the sale, the insider directly owned 191,468 shares of the company’s stock, valued at $928,619.80. This trade represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 10,334 shares of company stock valued at $50,120 over the last three months. Company insiders own 12.80% of the company’s stock.

Institutional Trading of American Well

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in American Well by 280.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock valued at $510,000 after purchasing an additional 47,745 shares during the period. Jane Street Group LLC increased its holdings in shares of 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 period. JPMorgan Chase & Co. raised its position in shares of American Well by 16.5% in the second quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock worth $131,000 after buying an additional 2,081 shares in the last quarter. Norges Bank bought a new stake in American Well during the second quarter valued at $250,000. Finally, Engineers Gate Manager LP bought a new stake in American Well during the second quarter valued at $101,000. Institutional investors own 56.05% of the company’s stock.

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.