American Well Co. (NYSE:AMWL) Given Consensus Rating of “Hold” by Brokerages

Shares of American Well Co. (NYSE:AMWL) have been assigned a consensus rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $11.90.

Several brokerages have recently issued reports on AMWL. Stifel Nicolaus boosted their price target on shares of American Well from $9.00 to $10.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Wells Fargo & Company raised shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price target for the company in a report on Monday, January 13th. Needham & Company LLC reissued a “hold” rating on shares of American Well in a report on Thursday, February 13th. Truist Financial boosted their price target on shares of American Well from $10.00 to $12.00 and gave the company a “hold” rating in a report on Friday, February 14th. Finally, Morgan Stanley decreased their price target on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a report on Tuesday, December 17th.

Insider Buying and Selling

In related news, insider Phyllis Gotlib sold 4,781 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.80, for a total value of $42,072.80. Following the completion of the transaction, the insider now directly owns 147,998 shares of the company’s stock, valued at approximately $1,302,382.40. This represents a 3.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 5,219 shares of company stock valued at $46,454. Company insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On American Well

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA acquired a new position in American Well in the 4th quarter worth $45,000. BNP Paribas Financial Markets bought a new stake in American Well during the 3rd quarter worth about $95,000. OMERS ADMINISTRATION Corp bought a new stake in American Well during the 4th quarter worth about $76,000. PDT Partners LLC bought a new stake in American Well during the 3rd quarter worth about $107,000. Finally, Walleye Capital LLC bought a new stake in American Well during the 3rd quarter worth about $167,000. 56.05% of the stock is owned by institutional investors and hedge funds.

American Well Price Performance

AMWL stock opened at $8.07 on Tuesday. The company has a 50 day moving average price of $9.90 and a 200 day moving average price of $9.33. American Well has a fifty-two week low of $5.00 and a fifty-two week high of $21.20. The stock has a market capitalization of $125.89 million, a PE ratio of -0.58 and a beta of 1.18.

American Well (NYSE:AMWL) last issued its earnings results on Wednesday, February 12th. The company reported ($2.77) EPS for the quarter, beating the consensus estimate of ($3.04) by $0.27. American Well had a negative net margin of 81.83% and a negative return on equity of 56.73%. As a group, equities analysts expect that American Well will post -9.34 earnings per share for the current fiscal year.

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.