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

Needham & Company LLC reissued their hold rating on shares of American Well (NYSE:AMWL - Free Report) in a research note issued to investors on Thursday morning, Benzinga reports.

Separately, Morgan Stanley cut their price objective on shares of American Well from $1.75 to $1.00 and set an equal weight rating on the stock in a research report on Monday, April 15th.

American Well Stock Down 2.1 %

Shares of American Well stock traded down $0.01 on Thursday, reaching $0.52. The stock had a trading volume of 3,042,261 shares, compared to its average volume of 1,993,253. The company has a 50 day moving average price of $0.80 and a 200 day moving average price of $1.07. American Well has a 1 year low of $0.45 and a 1 year high of $2.74. The stock has a market capitalization of $150.50 million, a P/E ratio of -0.22 and a beta of 1.12.

American Well (NYSE:AMWL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.07). American Well had a negative return on equity of 40.19% and a negative net margin of 260.63%. The firm had revenue of $59.52 million during the quarter, compared to analysts' expectations of $61.10 million. During the same period in the previous year, the firm earned ($0.24) EPS. On average, analysts forecast that American Well will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Vukasin Paunovich sold 251,323 shares of American Well stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $273,942.07. Following the completion of the sale, the executive vice president now directly owns 2,535,635 shares in the company, valued at approximately $2,763,842.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Robert Shepardson sold 319,214 shares of American Well stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $347,943.26. Following the completion of the sale, the chief financial officer now directly owns 2,845,148 shares in the company, valued at approximately $3,101,211.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vukasin Paunovich sold 251,323 shares of American Well stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total transaction of $273,942.07. Following the completion of the sale, the executive vice president now owns 2,535,635 shares of the company's stock, valued at $2,763,842.15. The disclosure for this sale can be found here. Insiders sold 1,158,186 shares of company stock worth $1,255,582 in the last three months. Corporate insiders own 12.94% of the company's stock.

Institutional Trading of American Well

Several institutional investors and hedge funds have recently bought and sold shares of AMWL. SG Americas Securities LLC lifted its stake in American Well by 143.8% during the 3rd quarter. SG Americas Securities LLC now owns 68,041 shares of the company's stock valued at $80,000 after acquiring an additional 40,131 shares during the period. Brown Advisory Inc. lifted its stake in American Well by 36.6% during the 3rd quarter. Brown Advisory Inc. now owns 56,611 shares of the company's stock valued at $66,000 after acquiring an additional 15,170 shares during the period. Principal Financial Group Inc. lifted its stake in American Well by 32.1% during the 3rd quarter. Principal Financial Group Inc. now owns 34,397 shares of the company's stock valued at $40,000 after acquiring an additional 8,354 shares during the period. Versor Investments LP acquired a new stake in American Well during the 3rd quarter valued at approximately $294,000. Finally, Barclays PLC lifted its stake in American Well by 8.8% during the 3rd quarter. Barclays PLC now owns 173,359 shares of the company's stock valued at $203,000 after acquiring an additional 14,021 shares during the period. 56.05% of the stock is currently owned by institutional investors and hedge funds.

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.