Needham & Company LLC Reaffirms “Hold” Rating for American Well (NYSE:AMWL)

American Well (NYSE:AMWL)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports.

Several other equities research analysts also recently issued reports on AMWL. Morgan Stanley lowered their price objective on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Wells Fargo & Company raised shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research report on Monday, January 13th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.90.

American Well Stock Up 3.7 %

Shares of AMWL stock opened at $12.17 on Thursday. The firm has a fifty day moving average of $9.26 and a 200-day moving average of $9.14. American Well has a 12-month low of $5.00 and a 12-month high of $29.00. The company has a market capitalization of $186.37 million, a price-to-earnings ratio of -0.83 and a beta of 1.18.

American Well (NYSE:AMWL) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($2.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.04) by $0.27. American Well had a negative net margin of 84.27% and a negative return on equity of 52.49%. On average, equities analysts expect that American Well will post -13.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Senvest Management LLC grew its position in shares of American Well by 3.9% in the 4th quarter. Senvest Management LLC now owns 1,300,611 shares of the company’s stock valued at $9,429,000 after acquiring an additional 48,800 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of American Well by 7,673.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock valued at $60,000 after acquiring an additional 181,715 shares during the period. Geode Capital Management LLC grew its position in shares of American Well by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 147,925 shares of the company’s stock valued at $1,073,000 after acquiring an additional 922 shares during the period. Takeda Pharmaceutical Co. Ltd. bought a new position in shares of American Well in the 4th quarter valued at about $564,000. Finally, HighTower Advisors LLC bought a new position in shares of American Well in the 3rd quarter valued at about $355,000. Institutional investors own 56.05% of the company’s stock.

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.