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

Shares of American Well Co. (NYSE:AMWL) have received an average recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $11.90.

AMWL has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of American Well in a report on Thursday, February 13th. Truist Financial raised their target price on American Well from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Friday, February 14th. Morgan Stanley lowered their price target 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. Wells Fargo & Company upgraded American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a research report on Monday, January 13th. Finally, Stifel Nicolaus upped their target price on American Well from $9.00 to $10.00 and gave the company a “hold” rating in a report on Thursday, February 13th.

American Well Stock Down 3.8 %

American Well stock opened at $12.01 on Friday. The firm has a fifty day simple moving average of $9.52 and a two-hundred day simple moving average of $9.23. American Well has a twelve month low of $5.00 and a twelve month high of $24.80. The company has a market capitalization of $184.05 million, a PE ratio of -0.86 and a beta of 1.18.

American Well (NYSE:AMWL) last announced its quarterly earnings results 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%. As a group, equities analysts expect that American Well will post -9.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AMWL. Cubist Systematic Strategies LLC lifted its position in American Well by 7,673.8% during the second quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock valued at $60,000 after buying an additional 181,715 shares during the period. BNP Paribas Financial Markets purchased a new position in American Well during the third quarter valued at $95,000. Walleye Capital LLC bought a new stake in American Well in the third quarter worth $167,000. PDT Partners LLC purchased a new stake in shares of American Well in the third quarter worth $107,000. Finally, HighTower Advisors LLC bought a new position in shares of American Well during the third quarter valued at $355,000. Hedge funds and other institutional investors own 56.05% of the company’s stock.

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.