American Well Co. (NYSE:AMWL) Sees Significant Increase in Short Interest

American Well Co. (NYSE:AMWL) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 9,300,000 shares, a growth of 50.7% from the March 31st total of 6,170,000 shares. Based on an average daily trading volume, of 2,120,000 shares, the days-to-cover ratio is presently 4.4 days.

American Well Trading Up 12.9 %

Shares of AMWL stock traded up $0.07 during mid-day trading on Monday, reaching $0.60. 2,384,005 shares of the company’s stock traded hands, compared to its average volume of 1,946,877. American Well has a 12 month low of $0.50 and a 12 month high of $2.74. The firm has a 50 day moving average price of $0.84 and a two-hundred day moving average price of $1.08.

American Well (NYSE:AMWL) last posted its earnings results on Wednesday, February 14th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.02. The company had revenue of $70.68 million during the quarter, compared to analysts’ expectations of $70.16 million. American Well had a negative net margin of 260.63% and a negative return on equity of 40.19%. American Well’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period last year, the company posted ($0.22) earnings per share. As a group, equities analysts predict that American Well will post -0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley dropped their target price on 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.

Insider Transactions at American Well

In other 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 transaction of $273,942.07. Following the completion of the transaction, the executive vice president now directly owns 2,535,635 shares in the company, valued at $2,763,842.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other American Well 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 owns 2,845,148 shares of the company’s stock, valued at approximately $3,101,211.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Vukasin Paunovich sold 251,323 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 2,535,635 shares in the company, valued at $2,763,842.15. The disclosure for this sale can be found here. Insiders have sold 1,169,038 shares of company stock valued at $1,267,410 in the last three months. 12.94% of the stock is currently owned by company insiders.

Institutional Trading of American Well

A number of large investors have recently added to or reduced their stakes in AMWL. Oak Thistle LLC bought a new stake in American Well in the first quarter worth $46,000. Aristides Capital LLC bought a new stake in shares of American Well in the 4th quarter worth about $224,000. Tower Research Capital LLC TRC raised its position in shares of American Well by 520.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 73,945 shares of the company’s stock valued at $110,000 after buying an additional 62,019 shares in the last quarter. Senvest Management LLC lifted its holdings in shares of American Well by 2.2% in the 4th quarter. Senvest Management LLC now owns 23,529,964 shares of the company’s stock valued at $35,060,000 after acquiring an additional 507,340 shares during the last quarter. Finally, RPO LLC purchased a new position in American Well in the fourth quarter worth about $85,000. Institutional investors own 56.05% of the company’s stock.

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.