American Well Co. (NYSE:AMWL) Sees Significant Increase in Short Interest

American Well Co. (NYSE:AMWL) was the recipient of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 481,600 shares, a growth of 25.7% from the January 31st total of 383,100 shares. Currently, 4.1% of the company’s stock are sold short. Based on an average trading volume of 71,800 shares, the short-interest ratio is currently 6.7 days.

Insiders Place Their Bets

In other news, insider Phyllis Gotlib sold 4,781 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.80, for a total transaction of $42,072.80. Following the sale, the insider now owns 147,998 shares in the company, valued at approximately $1,302,382.40. The trade was a 3.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 5,219 shares of company stock worth $46,454. Company insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On American Well

Hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP boosted its holdings in shares of American Well by 12.3% during the 4th quarter. Two Sigma Investments LP now owns 19,216 shares of the company’s stock valued at $139,000 after acquiring an additional 2,102 shares during the last quarter. Two Sigma Advisers LP grew its position in American Well by 102.7% in the 4th quarter. Two Sigma Advisers LP now owns 41,045 shares of the company’s stock worth $298,000 after purchasing an additional 20,800 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in American Well in the 4th quarter worth approximately $76,000. Corton Capital Inc. purchased a new stake in American Well during the 4th quarter valued at $134,000. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of American Well by 39.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 96,741 shares of the company’s stock valued at $701,000 after buying an additional 27,343 shares during the period. Hedge funds and other institutional investors own 56.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wells Fargo & Company raised shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a research note on Monday, January 13th. Truist Financial boosted their price target on American Well from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. Morgan Stanley reduced their price objective on American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of American Well in a report on Thursday, February 13th. Finally, Stifel Nicolaus increased their target price on American Well from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.90.

American Well Stock Performance

Shares of AMWL traded up $0.03 on Wednesday, hitting $8.73. 56,633 shares of the stock traded hands, compared to its average volume of 76,956. American Well has a one year low of $5.00 and a one year high of $21.60. The company has a market capitalization of $136.23 million, a PE ratio of -0.62 and a beta of 1.18. The business has a 50 day simple moving average of $9.84 and a 200 day simple moving average of $9.34.

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