American Well (NYSE:AMWL) Price Target Lowered to $7.50 at Truist Financial

American Well (NYSE:AMWL) had its price objective decreased by Truist Financial from $12.00 to $7.50 in a research report report published on Thursday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other brokerages have also recently commented on AMWL. Stifel Nicolaus increased their price target on shares of American Well from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a report on Thursday, February 13th. Morgan Stanley decreased their target price on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.00.

American Well Price Performance

AMWL stock opened at $7.27 on Thursday. The firm has a 50 day simple moving average of $9.09 and a two-hundred day simple moving average of $9.10. The stock has a market cap of $113.53 million, a PE ratio of -0.52 and a beta of 1.22. American Well has a one year low of $5.00 and a one year high of $13.35.

American Well (NYSE:AMWL) last released its earnings results on Wednesday, February 12th. The company reported ($2.77) EPS for the quarter, beating 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%. On average, research analysts expect that American Well will post -9.34 EPS for the current fiscal year.

Insider Activity

In other news, insider Phyllis Gotlib sold 4,781 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.80, for a total transaction of $42,072.80. Following the transaction, the insider now directly owns 147,998 shares of the company’s stock, valued at approximately $1,302,382.40. The trade was a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 5,219 shares of company stock valued at $46,454. Insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMWL. Compagnie Lombard Odier SCmA purchased a new position in shares of American Well during the fourth quarter valued at about $45,000. BNP Paribas Financial Markets bought a new stake in American Well during the 3rd quarter valued at approximately $95,000. OMERS ADMINISTRATION Corp purchased a new position in shares of American Well during the 4th quarter worth approximately $76,000. Chancellor Financial Group WB LP bought a new position in shares of American Well in the 4th quarter worth approximately $83,000. Finally, Walleye Capital LLC bought a new position in shares of American Well in the 3rd quarter worth approximately $167,000. 56.05% of the stock is owned by hedge funds and other institutional investors.

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.