American Well Corporation (NYSE:AMWL) Stock Has Average Price Target of $9.50 According to Brokerages

Shares of American Well Corporation (NYSE:AMWL) have earned a consensus rating of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $9.50.

Several equities analysts have recently weighed in on AMWL shares. Wells Fargo & Company upped their price objective on shares of American Well from $9.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Truist Financial set a $12.00 target price on American Well and gave the company a “hold” rating in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Well in a research report on Friday, July 17th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a research note on Wednesday, August 5th.

American Well Stock Up 1.1%

Shares of AMWL stock opened at $12.67 on Wednesday. The firm has a 50 day moving average of $12.70 and a 200-day moving average of $9.72. The company has a market cap of $209.62 million, a price-to-earnings ratio of -2.66 and a beta of 1.67. American Well has a 52 week low of $3.71 and a 52 week high of $14.19.

American Well (NYSE:AMWL) last released its earnings results on Tuesday, August 4th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.27. The company had revenue of $52.05 million for the quarter, compared to the consensus estimate of $49.87 million. American Well had a negative net margin of 35.75% and a negative return on equity of 30.12%. Analysts anticipate that American Well will post -2.56 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Phyllis Gotlib sold 6,677 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $13.00, for a total transaction of $86,801.00. Following the completion of the sale, the insider owned 142,504 shares in the company, valued at $1,852,552. The trade was a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dmitry Zamansky sold 8,442 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $13.00, for a total value of $109,746.00. Following the transaction, the insider directly owned 224,178 shares in the company, valued at $2,914,314. The trade was a 3.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,457 shares of company stock valued at $248,519 in the last three months. Insiders own 12.84% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in American Well stock. Senvest Management LLC raised its holdings in American Well Corporation (NYSE:AMWL) by 213.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,136,558 shares of the company’s stock after buying an additional 773,834 shares during the period. Senvest Management LLC owned about 6.87% of American Well worth $5,978,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 56.05% of the company’s stock.

About American Well

American Well Corporation, doing business as Amwell, is a digital health company that provides technology and services for virtual care. Its platform connects patients with healthcare professionals through video and other digital channels, supporting services such as urgent care, behavioral health, primary care, specialty care and chronic-condition management.

Amwell also provides software and infrastructure that enable health systems, health plans, employers and government organizations to offer and manage digital healthcare programs.