American Well (NYSE:AMWL) Shares to Reverse Split on Thursday, July 11th

American Well Co. (NYSE:AMWL) shares are scheduled to reverse split on Thursday, July 11th. The 1-20 reverse split was announced on Thursday, July 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, July 11th.

American Well Price Performance

American Well stock opened at $0.32 on Tuesday. The firm’s fifty day moving average price is $0.43 and its 200 day moving average price is $0.80. The company has a market capitalization of $95.76 million, a price-to-earnings ratio of -0.26 and a beta of 1.03. American Well has a 12-month low of $0.25 and a 12-month high of $2.47.

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

Analyst Ratings Changes

A number of research analysts have commented on AMWL shares. UBS Group reduced their price objective on shares of American Well from $1.50 to $0.60 and set a “neutral” rating on the stock in a research note on Thursday, May 23rd. Needham & Company LLC reiterated a “hold” rating on shares of American Well in a research note on Thursday, May 2nd. Finally, Morgan Stanley cut their price objective on 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.

Hedge Funds Weigh In On American Well

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in shares of American Well by 75.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 289,318 shares of the company’s stock worth $235,000 after acquiring an additional 124,441 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in American Well during the 1st quarter valued at about $1,284,000. Acadian Asset Management LLC grew its position in American Well by 193.0% in the 1st quarter. Acadian Asset Management LLC now owns 2,083,805 shares of the company’s stock worth $1,687,000 after purchasing an additional 1,372,582 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of American Well by 1.4% in the first quarter. Vanguard Group Inc. now owns 13,398,096 shares of the company’s stock valued at $10,862,000 after purchasing an additional 190,922 shares during the period. Finally, Oak Thistle LLC bought a new stake in shares of American Well during the first quarter valued at approximately $46,000. 56.05% of the stock is currently owned by institutional investors and hedge funds.

American Well Company Profile

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.