American Well (NYSE:AMWL) Earns Hold Rating from Needham & Company LLC

American Well (NYSE:AMWL)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research report issued to clients and investors on Thursday, 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 note on Tuesday, August 6th.

American Well Stock Performance

AMWL opened at $9.00 on Thursday. American Well has a fifty-two week low of $5.00 and a fifty-two week high of $31.60. The company has a market capitalization of $134.91 million, a P/E ratio of -0.62 and a beta of 1.05. The stock has a fifty day moving average of $9.34 and a 200-day moving average of $8.95.

American Well (NYSE:AMWL) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($2.87) EPS for the quarter, beating analysts’ consensus estimates of ($3.32) by $0.45. The business had revenue of $61.05 million during the quarter, compared to the consensus estimate of $62.06 million. American Well had a negative return on equity of 50.12% and a negative net margin of 84.27%. On average, equities research analysts predict that American Well will post -13.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kathy Johnson Weiler sold 7,266 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total transaction of $57,183.42. Following the sale, the insider now directly owns 188,027 shares in the company, valued at approximately $1,479,772.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Robert Shepardson sold 5,177 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total transaction of $40,742.99. Following the sale, the chief financial officer now directly owns 112,992 shares in the company, valued at approximately $889,247.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kathy Johnson Weiler sold 7,266 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total value of $57,183.42. Following the completion of the sale, the insider now owns 188,027 shares in the company, valued at $1,479,772.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,640 shares of company stock valued at $173,939. 12.80% of the stock is currently owned by corporate insiders.

Institutional Trading of American Well

Several institutional investors have recently added to or reduced their stakes in AMWL. Vanguard Group Inc. boosted its holdings in American Well by 1.4% in the first 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 last quarter. Acadian Asset Management LLC boosted its holdings 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 buying an additional 1,372,582 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of American Well during the 1st quarter worth approximately $1,284,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of American Well by 75.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 289,318 shares of the company’s stock worth $235,000 after buying an additional 124,441 shares in the last quarter. Finally, Cowen AND Company LLC bought a new position in shares of American Well during the 2nd quarter worth approximately $81,000. 56.05% of the stock is currently owned by institutional investors.

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.