American Well Corporation (NYSE:AMWL) Sees Large Increase in Short Interest

Key Points

• Short interest rose 20.4% in March to 310,783 shares (about 2.1% of the company's shares), giving a days-to-cover ratio of 8.1 based on average volume.
• Analysts hold an overall Hold consensus with an average price target of $7.40; recent notes include price-target cuts from Morgan Stanley and Stifel and an upgrade from Wall Street Zen.
• Shares trade near $6.11 with a market cap of roughly $101 million, and the company remains unprofitable with negative margins and analyst forecasts of about -9.34 EPS for the year.

American Well Corporation (NYSE:AMWL - Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 310,783 shares, an increase of 20.4% from the March 15th total of 258,208 shares. Based on an average daily volume of 38,138 shares, the days-to-cover ratio is presently 8.1 days. Currently, 2.1% of the company's shares are sold short.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMWL shares. Wall Street Zen raised American Well from a "sell" rating to a "hold" rating in a research report on Sunday, March 22nd. Weiss Ratings reissued a "sell (e+)" rating on shares of American Well in a research report on Wednesday, January 21st. Morgan Stanley dropped their price target on American Well from $10.50 to $6.00 and set an "equal weight" rating for the company in a research note on Thursday, December 18th. Finally, Stifel Nicolaus reduced their price objective on American Well from $6.00 to $5.00 and set a "hold" rating on the stock in a research note on Friday, February 13th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, American Well currently has an average rating of "Hold" and an average price target of $7.40.

American Well Stock Down 1.2%

Shares of American Well stock traded down $0.08 during trading hours on Friday, hitting $6.11. The company's stock had a trading volume of 58,479 shares, compared to its average volume of 53,317. The business has a fifty day moving average of $5.46 and a 200 day moving average of $5.04. American Well has a 1-year low of $3.71 and a 1-year high of $9.15. The company has a market capitalization of $101.17 million, a PE ratio of -1.03 and a beta of 1.39.

American Well (NYSE:AMWL - Get Free Report) last posted its earnings results on Thursday, February 12th. The company reported ($1.52) earnings per share for the quarter, beating the consensus estimate of ($1.59) by $0.07. American Well had a negative net margin of 38.38% and a negative return on equity of 35.33%. The business had revenue of $55.31 million for the quarter, compared to analyst estimates of $52.71 million. On average, sell-side analysts anticipate that American Well will post -9.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other American Well news, insider Dmitry Zamansky sold 5,575 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $5.30, for a total transaction of $29,547.50. Following the transaction, the insider owned 241,080 shares of the company's stock, valued at $1,277,724. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 9,664 shares of company stock worth $51,219 over the last ninety days. Corporate insiders own 11.82% of the company's stock.

Institutional Investors Weigh In On American Well

A number of large investors have recently modified their holdings of AMWL. Headlands Technologies LLC purchased a new stake in shares of American Well during the 2nd quarter valued at about $39,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in American Well in the third quarter valued at approximately $62,000. Occudo Quantitative Strategies LP acquired a new stake in American Well in the fourth quarter valued at approximately $74,000. NewEdge Advisors LLC purchased a new stake in shares of American Well during the fourth quarter valued at approximately $82,000. Finally, Prelude Capital Management LLC acquired a new position in shares of American Well during the third quarter worth $86,000. Institutional investors and hedge funds own 56.05% of the company's stock.

American Well Company Profile

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company's core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.

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