American Well (NYSE:AMWL) Shares to Reverse Split on Thursday, July 11th

Shares of American Well Co. (NYSE:AMWL) are set to reverse split on the morning of Thursday, July 11th. The 1-20 reverse split was announced on Thursday, July 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, July 11th.

American Well Stock Performance

AMWL opened at $0.33 on Friday. The stock has a market capitalization of $98.66 million, a P/E ratio of -0.27 and a beta of 1.07. American Well has a one year low of $0.32 and a one year high of $2.47. The business’s 50-day simple moving average is $0.46 and its 200-day simple moving average is $0.85.

American Well (NYSE:AMWL) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The firm had revenue of $59.52 million during the quarter, compared to analysts’ expectations of $61.10 million. American Well had a negative net margin of 137.32% and a negative return on equity of 46.76%. During the same quarter in the prior year, the firm posted ($0.24) EPS. On average, equities research analysts forecast that American Well will post -0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMWL. Needham & Company LLC reissued a “hold” rating on shares of American Well in a report on Thursday, May 2nd. Morgan Stanley decreased their price target on American Well from $1.75 to $1.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. Finally, UBS Group cut their price objective on shares of American Well from $1.50 to $0.60 and set a “neutral” rating for the company in a research report on Thursday, May 23rd.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Senvest Management LLC grew its stake in shares of American Well by 2.2% during the 4th quarter. Senvest Management LLC now owns 23,529,964 shares of the company’s stock worth $35,060,000 after purchasing an additional 507,340 shares during the period. Vanguard Group Inc. lifted its position in shares of American Well by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 13,398,096 shares of the company’s stock valued at $10,862,000 after acquiring an additional 190,922 shares during the period. Acadian Asset Management LLC boosted its stake in shares of American Well by 193.0% during the 1st quarter. Acadian Asset Management LLC now owns 2,083,805 shares of the company’s stock worth $1,687,000 after acquiring an additional 1,372,582 shares in the last quarter. Rock Point Advisors LLC grew its holdings in shares of American Well by 9.5% in the 4th quarter. Rock Point Advisors LLC now owns 2,062,582 shares of the company’s stock worth $3,073,000 after acquiring an additional 179,061 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in American Well in the 1st quarter valued at approximately $1,284,000. Hedge funds and other 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.