American Well's (AMWL) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of American Well (NYSE:AMWL - Free Report) in a research report released on Friday,Benzinga reports.

Several other equities research analysts also recently commented on the company. Wells Fargo & Company raised American Well from an "equal weight" rating to an "overweight" rating and set a $15.00 target price on the stock in a report on Monday, January 13th. Stifel Nicolaus increased their price target on shares of American Well from $9.00 to $10.00 and gave the company a "hold" rating in a report on Thursday, February 13th. Finally, Truist Financial cut their target price on American Well from $12.00 to $7.50 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $10.60.

American Well Price Performance

NYSE:AMWL traded down $0.01 during trading hours on Friday, hitting $6.78. The stock had a trading volume of 16,327 shares, compared to its average volume of 90,963. The company has a 50 day simple moving average of $7.58 and a two-hundred day simple moving average of $8.78. The firm has a market capitalization of $105.77 million, a price-to-earnings ratio of -0.49 and a beta of 1.22. American Well has a one year low of $5.00 and a one year high of $12.95.

American Well (NYSE:AMWL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($1.73) earnings per share for the quarter, topping the consensus estimate of ($3.09) by $1.36. American Well had a negative net margin of 81.83% and a negative return on equity of 56.73%. The company had revenue of $66.83 million for the quarter, compared to analysts' expectations of $60.15 million. Equities research analysts anticipate that American Well will post -9.34 earnings per share for the current year.

Insider Transactions at American Well

In other news, insider Phyllis Gotlib sold 4,781 shares of the 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 sale, the insider now directly owns 147,998 shares in the company, valued at approximately $1,302,382.40. This represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.80% of the company's stock.

Institutional Trading of American Well

Several institutional investors and hedge funds have recently made changes to their positions in the company. Senvest Management LLC boosted its stake in American Well by 3.9% in the fourth quarter. Senvest Management LLC now owns 1,300,611 shares of the company's stock valued at $9,429,000 after acquiring an additional 48,800 shares in the last quarter. 4D Advisors LLC purchased a new stake in American Well in the fourth quarter valued at $1,088,000. Geode Capital Management LLC grew its position in 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 purchasing an additional 922 shares during the period. Bridgeway Capital Management LLC lifted its holdings in shares of American Well by 39.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 96,741 shares of the company's stock valued at $701,000 after buying an additional 27,343 shares during the period. Finally, Takeda Pharmaceutical Co. Ltd. purchased a new stake in shares of American Well in the fourth quarter worth about $564,000. 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.