American Well Co. (NYSE:AMWL) Receives Average Recommendation of "Hold" from Brokerages

Shares of American Well Co. (NYSE:AMWL - Get Free Report) have received an average recommendation of "Hold" from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Six 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 brokerages that have issued ratings on the stock in the last year is $9.67.

Several research analysts recently weighed in on AMWL shares. Needham & Company LLC restated a "hold" rating on shares of American Well in a research report on Friday, May 2nd. Piper Sandler reissued a "neutral" rating and issued a $8.00 price target (down previously from $10.00) on shares of American Well in a research note on Friday, May 23rd. Truist Financial lowered their price objective on shares of American Well from $12.00 to $7.50 and set a "hold" rating on the stock in a research report on Thursday, April 10th. UBS Group cut their target price on shares of American Well from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Finally, Stifel Nicolaus reduced their target price on American Well from $10.00 to $8.00 and set a "hold" rating on the stock in a research note on Friday, May 2nd.

American Well Trading Down 1.6%

Shares of NYSE AMWL traded down $0.12 during mid-day trading on Friday, hitting $6.88. The company had a trading volume of 3,583 shares, compared to its average volume of 88,090. American Well has a 1 year low of $5.00 and a 1 year high of $12.95. The company has a market capitalization of $107.32 million, a price-to-earnings ratio of -0.50 and a beta of 1.22. The stock's 50-day moving average price is $7.24 and its 200-day moving average price is $8.54.

American Well (NYSE:AMWL - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($1.73) earnings per share for the quarter, beating analysts' consensus estimates of ($3.09) by $1.36. American Well had a negative return on equity of 56.73% and a negative net margin of 81.83%. The business had revenue of $66.83 million during the quarter, compared to analyst estimates of $60.15 million. As a group, equities research analysts forecast that American Well will post -9.34 earnings per share for the current year.

Insiders Place Their Bets

In other American Well 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 value of $42,072.80. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On American Well

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in American Well by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 147,925 shares of the company's stock worth $1,073,000 after acquiring an additional 922 shares during the period. Northern Trust Corp lifted its stake in shares of American Well by 7.4% in the fourth quarter. Northern Trust Corp now owns 29,021 shares of the company's stock worth $210,000 after buying an additional 1,992 shares in the last quarter. Two Sigma Investments LP boosted its stake in 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 purchasing an additional 2,102 shares during the last quarter. Jane Street Group LLC increased its holdings in American Well by 21.9% in the 4th quarter. Jane Street Group LLC now owns 19,260 shares of the company's stock worth $140,000 after buying an additional 3,462 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA bought a new stake in American Well in the 4th quarter worth approximately $45,000. 56.05% of the stock is currently owned by institutional investors.

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.