Needham & Company LLC Reiterates Hold Rating for American Well (NYSE:AMWL)

Needham & Company LLC restated their hold rating on shares of American Well (NYSE:AMWL) in a report issued on Friday morning,Benzinga reports.

A number of other analysts also recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of American Well from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Thursday, February 13th. Wells Fargo & Company upgraded American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a report on Monday, January 13th. Finally, Truist Financial dropped their price objective on American Well from $12.00 to $7.50 and set a “hold” rating for the company in a research note on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, American Well has an average rating of “Hold” and a consensus price target of $10.60.

American Well Trading Up 19.5 %

Shares of AMWL opened at $7.40 on Friday. The firm has a market capitalization of $115.51 million, a PE ratio of -0.53 and a beta of 1.22. The stock’s 50 day moving average is $7.70 and its two-hundred day moving average is $8.84. American Well has a twelve month low of $5.00 and a twelve month high of $12.95.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($1.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.09) by $1.36. American Well had a negative return on equity of 56.73% and a negative net margin of 81.83%. The firm had revenue of $66.83 million for the quarter, compared to analyst estimates of $60.15 million. On average, sell-side analysts predict that American Well will post -9.34 EPS for the current year.

Insider Transactions at American Well

In related news, insider Phyllis Gotlib sold 4,781 shares of American Well stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.80, for a total transaction of $42,072.80. Following the completion of the sale, the insider now owns 147,998 shares in the company, valued at approximately $1,302,382.40. This trade represents a 3.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 5,219 shares of company stock valued at $46,454 in the last ninety days. Corporate insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On American Well

Several hedge funds have recently modified their holdings of the company. Sapient Capital LLC acquired a new position in shares of American Well in the first quarter valued at approximately $79,000. Chancellor Financial Group WB LP acquired a new position in American Well in the 4th quarter valued at $83,000. Two Sigma Investments LP lifted its stake in shares of American Well by 12.3% during the 4th quarter. Two Sigma Investments LP now owns 19,216 shares of the company’s stock worth $139,000 after purchasing an additional 2,102 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of American Well by 102.7% during the fourth quarter. Two Sigma Advisers LP now owns 41,045 shares of the company’s stock worth $298,000 after purchasing an additional 20,800 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of American Well in the fourth quarter valued at $76,000. 56.05% of the stock is 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.