American Well Corporation (NYSE:AMWL) Short Interest Down 15.7% in March

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

Insider Buying and Selling at American Well

In other news, insider Dmitry Zamansky sold 6,243 shares of the business’s stock in a transaction that occurred 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 owned 191,468 shares in the company, valued at $928,619.80. The trade was a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 10,334 shares of company stock valued at $50,120 over the last quarter. Company insiders own 12.80% of the company’s stock.

Institutional Trading of American Well

A number of institutional investors have recently bought and sold shares of AMWL. Whetstone Capital Advisors LLC acquired a new position in American Well in the 4th quarter worth about $123,000. NewEdge Advisors LLC acquired a new stake in shares of American Well during the 4th quarter valued at about $82,000. Engineers Gate Manager LP bought a new stake in shares of American Well in the 2nd quarter valued at approximately $101,000. Vanguard Group Inc. increased its holdings in American Well by 2.5% in the third quarter. Vanguard Group Inc. now owns 650,102 shares of the company’s stock worth $3,998,000 after buying an additional 15,797 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in 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 buying an additional 44,852 shares during the last quarter. Institutional investors and hedge funds own 56.05% of the company’s stock.

American Well Price Performance

AMWL traded up $0.16 on Tuesday, reaching $5.33. 16,917 shares of the company traded hands, compared to its average volume of 93,404. The company has a market cap of $88.23 million, a price-to-earnings ratio of -0.90 and a beta of 1.34. The stock’s 50 day moving average price is $5.17 and its 200-day moving average price is $5.09. American Well has a 52-week low of $3.71 and a 52-week high of $9.15.

American Well (NYSE:AMWL) last released its earnings results on Thursday, February 12th. The company reported ($1.52) earnings per share (EPS) for the quarter, topping 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 company had revenue of $55.31 million during the quarter, compared to the consensus estimate of $52.71 million. As a group, equities research analysts forecast that American Well will post -9.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

About American Well

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.