Short Interest in American Well Co. (NYSE:AMWL) Drops By 20.4%

American Well Co. (NYSE:AMWL) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 344,300 shares, a decline of 20.4% from the February 28th total of 432,800 shares. Based on an average trading volume of 69,500 shares, the short-interest ratio is presently 5.0 days. Currently, 3.0% of the shares of the company are sold short.

Insider Activity

In other American Well 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 directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 5,219 shares of company stock valued at $46,454 over the last quarter. Corporate insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On American Well

Several institutional investors and hedge funds have recently modified their holdings of AMWL. Compagnie Lombard Odier SCmA purchased a new position in American Well in the 4th quarter worth approximately $45,000. OMERS ADMINISTRATION Corp purchased a new stake in American Well during the 4th quarter worth approximately $76,000. Chancellor Financial Group WB LP bought a new position in American Well during the 4th quarter valued at $83,000. BNP Paribas Financial Markets acquired a new stake in shares of American Well in the 3rd quarter valued at about $95,000. Finally, PDT Partners LLC acquired a new stake in American Well during the third quarter valued at approximately $107,000. Hedge funds and other institutional investors own 56.05% of the company’s stock.

American Well Price Performance

Shares of AMWL stock opened at $7.90 on Monday. The firm’s 50-day simple moving average is $9.93 and its 200-day simple moving average is $9.32. American Well has a 1-year low of $5.00 and a 1-year high of $17.17. The firm has a market cap of $123.30 million, a P/E ratio of -0.56 and a beta of 1.18.

American Well (NYSE:AMWL) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($2.77) EPS for the quarter, topping analysts’ consensus estimates 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%. Analysts expect that American Well will post -9.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMWL. Wells Fargo & Company upgraded 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 research report on Monday, January 13th. Truist Financial raised their target price 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. Needham & Company LLC restated a “hold” rating on shares of American Well in a research report on Thursday, February 13th. Morgan Stanley cut their target price on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus raised their price target on shares of American Well from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, American Well has an average rating of “Hold” and an average target price of $11.90.

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.