American Well’s (AMWL) “Hold” Rating Reaffirmed at Needham & Company LLC

American Well (NYSE:AMWL)‘s stock had its “hold” rating reissued by Needham & Company LLC in a report released on Tuesday, Benzinga reports.

Separately, Wells Fargo & Company dropped their price target on American Well from $40.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th.

American Well Stock Performance

NYSE AMWL opened at $10.15 on Tuesday. American Well has a one year low of $5.00 and a one year high of $31.60. The business has a fifty day moving average price of $8.66 and a 200 day moving average price of $10.24. The company has a market cap of $150.45 million, a P/E ratio of -0.41 and a beta of 1.04.

American Well (NYSE:AMWL) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($3.36) earnings per share for the quarter, topping the consensus estimate of ($3.94) by $0.58. American Well had a negative net margin of 120.44% and a negative return on equity of 50.36%. The firm had revenue of $62.79 million for the quarter, compared to the consensus estimate of $60.78 million. During the same period last year, the firm posted ($4.60) earnings per share. As a group, sell-side analysts predict that American Well will post -13.91 EPS for the current fiscal year.

Insider Activity

In other American Well news, insider Kathy Johnson Weiler sold 7,266 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total value of $57,183.42. Following the transaction, the insider now owns 188,027 shares of the company’s stock, valued at $1,479,772.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other American Well news, insider Kathy Johnson Weiler sold 7,266 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total value of $57,183.42. Following the sale, the insider now owns 188,027 shares of the company’s stock, valued at $1,479,772.49. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert Shepardson sold 5,177 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total value of $40,742.99. Following the transaction, the chief financial officer now owns 112,992 shares of the company’s stock, valued at $889,247.04. The disclosure for this sale can be found here. Insiders have sold a total of 22,137 shares of company stock valued at $169,765 in the last quarter. Insiders own 12.80% of the company’s stock.

Institutional Trading of American Well

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in shares of American Well by 63.9% in the second quarter. Renaissance Technologies LLC now owns 6,833,500 shares of the company’s stock valued at $2,220,000 after purchasing an additional 2,665,300 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of American Well by 80.5% in the second quarter. Acadian Asset Management LLC now owns 3,761,310 shares of the company’s stock worth $1,220,000 after acquiring an additional 1,677,505 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of American Well during the first quarter worth $1,284,000. AQR Capital Management LLC raised its stake in shares of American Well by 28.1% in the second quarter. AQR Capital Management LLC now owns 1,895,730 shares of the company’s stock valued at $616,000 after acquiring an additional 416,387 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in American Well by 2,690.2% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 419,841 shares of the company’s stock valued at $136,000 after purchasing an additional 404,794 shares during the period. 56.05% of the stock is currently owned by hedge funds and other institutional investors.

About American Well

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.