Brokerages Set American Well Co. (NYSE:AMWL) PT at $11.00

Shares of American Well Co. (NYSE:AMWL - Get Free Report) have earned a consensus recommendation of "Hold" from the six research firms that are currently covering the stock, MarketBeat.com 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 brokers that have issued ratings on the stock in the last year is $10.60.

Several equities research analysts have recently weighed in on AMWL shares. Truist Financial decreased their price objective on American Well from $12.00 to $7.50 and set a "hold" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company upgraded 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. Needham & Company LLC reiterated a "hold" rating on shares of American Well in a research note on Friday. Finally, Stifel Nicolaus dropped their price target on American Well from $10.00 to $8.00 and set a "hold" rating on the stock in a research report on Friday.

American Well Price Performance

Shares of American Well stock traded up $1.21 during trading hours on Wednesday, hitting $7.40. The company had a trading volume of 131,670 shares, compared to its average volume of 91,593. The company's 50-day moving average is $7.70 and its two-hundred day moving average is $8.84. The company has a market cap of $115.51 million, a P/E ratio of -0.53 and a beta of 1.22. American Well has a twelve month low of $5.00 and a twelve month high of $12.95.

American Well (NYSE:AMWL - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($1.73) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $66.83 million for the quarter, compared to analyst estimates of $60.15 million. Sell-side analysts expect that American Well will post -9.34 EPS for the current year.

Insiders Place Their Bets

In other news, insider Phyllis Gotlib sold 4,781 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $8.80, for a total value of $42,072.80. Following the completion of the transaction, the insider now owns 147,998 shares in the company, valued at $1,302,382.40. This trade represents a 3.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 5,219 shares of company stock worth $46,454. Company insiders own 12.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA acquired a new stake in shares of American Well in the 4th quarter worth approximately $45,000. Takeda Pharmaceutical Co. Ltd. acquired a new stake in American Well in the fourth quarter valued at $564,000. Norges Bank purchased a new position in shares of American Well in the fourth quarter valued at $204,000. Geode Capital Management LLC raised its stake in shares of American Well by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 147,925 shares of the company's stock worth $1,073,000 after buying an additional 922 shares during the last quarter. Finally, Senvest Management LLC boosted its position in shares of American Well by 3.9% in the 4th quarter. Senvest Management LLC now owns 1,300,611 shares of the company's stock worth $9,429,000 after buying an additional 48,800 shares in the last quarter. 56.05% of the stock is currently owned by institutional investors and hedge funds.

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.