American Well Corporation (NYSE:AMWL) Receives Average Recommendation of "Hold" from Analysts

Shares of American Well Corporation (NYSE:AMWL - Get Free Report) have been assigned an average recommendation of "Hold" from the seven research firms that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $9.1667.

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

Insider Buying and Selling at American Well

In other American Well news, insider Phyllis Gotlib sold 4,958 shares of American Well 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 completion of the sale, the insider directly owned 136,891 shares in the company, valued at $1,181,369.33. The trade was a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 10,184 shares of company stock valued at $78,000 in the last quarter. 11.82% of the stock is currently owned by corporate insiders.

Institutional Trading of American Well

Several institutional investors and hedge funds have recently made changes to their positions in AMWL. Sapient Capital LLC bought a new position in American Well during the first quarter valued at approximately $79,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of American Well in the 2nd quarter valued at $89,000. OMERS ADMINISTRATION Corp bought a new position in shares of American Well during the 4th quarter valued at $76,000. Chancellor Financial Group WB LP purchased a new position in American Well in the 4th quarter worth $83,000. Finally, Corton Capital Inc. bought a new stake in American Well in the fourth quarter worth $134,000. Hedge funds and other institutional investors own 56.05% of the company's stock.

American Well Stock Down 6.2%

NYSE AMWL opened at $7.38 on Friday. The company has a market cap of $115.12 million, a PE ratio of -0.91 and a beta of 1.28. American Well has a 52 week low of $6.09 and a 52 week high of $12.95. The firm's 50-day simple moving average is $7.72 and its two-hundred day simple moving average is $8.29.

American Well (NYSE:AMWL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($1.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.84) by $0.60. The company had revenue of $70.90 million for the quarter, compared to analyst estimates of $63.87 million. American Well had a negative net margin of 46.15% and a negative return on equity of 41.99%. As a group, equities research analysts anticipate that American Well will post -9.34 EPS for the current year.

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.

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