American Well (NYSE:AMWL) Price Target Lowered to $0.60 at UBS Group

American Well (NYSE:AMWL) had its price target lowered by UBS Group from $1.50 to $0.60 in a research note published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also issued reports on AMWL. Needham & Company LLC restated a hold rating on shares of American Well in a report on Thursday, May 2nd. Morgan Stanley dropped their price target on shares of American Well from $1.75 to $1.00 and set an equal weight rating on the stock in a research note on Monday, April 15th.

American Well Stock Performance

Shares of NYSE:AMWL opened at $0.43 on Thursday. American Well has a one year low of $0.43 and a one year high of $2.74. The stock has a fifty day moving average of $0.62 and a 200-day moving average of $1.00. The company has a market capitalization of $128.01 million, a PE ratio of -0.35 and a beta of 1.12.

American Well (NYSE:AMWL) last released its earnings results on Wednesday, May 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The business had revenue of $59.52 million during the quarter, compared to analysts’ expectations of $61.10 million. American Well had a negative net margin of 137.32% and a negative return on equity of 46.76%. During the same quarter in the previous year, the company earned ($0.24) EPS. As a group, research analysts forecast that American Well will post -0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On American Well

Hedge funds have recently modified their holdings of the stock. Madison Park Capital Advisors LLC acquired a new position in shares of American Well in the fourth quarter worth $34,000. Vanguard Personalized Indexing Management LLC acquired a new position in American Well during the third quarter worth $36,000. Quadrature Capital Ltd acquired a new position in American Well during the third quarter worth $36,000. Principal Financial Group Inc. increased its position in American Well by 32.1% during the third quarter. Principal Financial Group Inc. now owns 34,397 shares of the company’s stock worth $40,000 after buying an additional 8,354 shares during the last quarter. Finally, Cito Capital Group LLC increased its position in American Well by 35.2% during the third quarter. Cito Capital Group LLC now owns 52,104 shares of the company’s stock worth $61,000 after buying an additional 13,552 shares during the last quarter. 56.05% of the stock is owned by institutional investors and hedge funds.

About American Well

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.