American Well Corporation (NYSE:AMWL) Given Consensus Rating of "Hold" by Brokerages

American Well Corporation (NYSE:AMWL - Get Free Report) has received an average rating of "Hold" from the seven research firms that are 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 price objective among analysts that have covered the stock in the last year is $9.67.

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

Insider Buying and Selling

In other American Well news, insider Phyllis Gotlib sold 4,958 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $8.63, for a total transaction of $42,787.54. Following the sale, the insider directly owned 136,891 shares in the company, valued at approximately $1,181,369.33. This trade represents a 3.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 10,184 shares of company stock worth $78,000. Company insiders own 11.82% of the company's stock.

Institutional Trading of American Well

Several hedge funds have recently bought and sold shares of AMWL. OMERS ADMINISTRATION Corp acquired a new stake in shares of American Well in the fourth quarter valued at approximately $76,000. Sapient Capital LLC acquired a new stake in shares of American Well in the first quarter valued at approximately $79,000. Chancellor Financial Group WB LP acquired a new stake in shares of American Well in the fourth quarter valued at approximately $83,000. Corton Capital Inc. acquired a new stake in shares of American Well in the fourth quarter valued at approximately $134,000. Finally, Two Sigma Investments LP raised its holdings in shares of American Well by 12.3% in the fourth 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. 56.05% of the stock is currently owned by institutional investors and hedge funds.

American Well Price Performance

Shares of NYSE AMWL traded down $0.16 during mid-day trading on Monday, hitting $8.12. The company's stock had a trading volume of 51,900 shares, compared to its average volume of 66,548. The stock has a market cap of $126.68 million, a price-to-earnings ratio of -0.80 and a beta of 1.29. American Well has a one year low of $6.10 and a one year high of $12.95. The company's fifty day simple moving average is $7.50 and its 200-day simple moving average is $8.28.

American Well (NYSE:AMWL - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($1.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.09) by $1.36. American Well had a negative net margin of 59.13% and a negative return on equity of 48.36%. The company had revenue of $66.83 million for the quarter, compared to analyst estimates of $60.15 million. On average, sell-side analysts predict that American Well will post -9.34 EPS for the current year.

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.