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

Needham & Company LLC reissued their hold rating on shares of American Well (NYSE:AMWL) in a research note issued to investors on Thursday morning, Benzinga reports.

Separately, Morgan Stanley lowered their price objective on American Well from $1.75 to $1.00 and set an equal weight rating on the stock in a research note on Monday, April 15th.

American Well Stock Performance

Shares of AMWL stock opened at $0.57 on Thursday. American Well has a fifty-two week low of $0.45 and a fifty-two week high of $2.74. The stock’s fifty day moving average is $0.78 and its two-hundred day moving average is $1.06. The firm has a market capitalization of $164.87 million, a P/E ratio of -0.47 and a beta of 1.12.

American Well (NYSE:AMWL) last posted its quarterly earnings results 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). American Well had a negative return on equity of 46.76% and a negative net margin of 137.32%. The business had revenue of $59.52 million for the quarter, compared to analyst estimates of $61.10 million. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. On average, equities analysts forecast that American Well will post -0.7 earnings per share for the current year.

Insider Transactions at American Well

In related news, insider Kathy Johnson Weiler sold 283,192 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total value of $308,679.28. Following the completion of the transaction, the insider now directly owns 3,975,617 shares in the company, valued at $4,333,422.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Kathy Johnson Weiler sold 283,192 shares of American Well stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $308,679.28. Following the completion of the sale, the insider now owns 3,975,617 shares in the company, valued at approximately $4,333,422.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vukasin Paunovich sold 251,323 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total value of $273,942.07. Following the transaction, the executive vice president now owns 2,535,635 shares of the company’s stock, valued at $2,763,842.15. The disclosure for this sale can be found here. Insiders sold 1,168,915 shares of company stock worth $1,261,161 in the last 90 days. Insiders own 12.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in shares of American Well by 32.1% in the third quarter. Principal Financial Group Inc. now owns 34,397 shares of the company’s stock worth $40,000 after acquiring an additional 8,354 shares in the last quarter. Swiss National Bank boosted its stake in shares of American Well by 2.3% in the 3rd quarter. Swiss National Bank now owns 463,200 shares of the company’s stock valued at $542,000 after buying an additional 10,500 shares during the period. Cito Capital Group LLC grew its position in shares of American Well by 35.2% during the third quarter. Cito Capital Group LLC now owns 52,104 shares of the company’s stock worth $61,000 after buying an additional 13,552 shares in the last quarter. Barclays PLC increased its stake in shares of American Well by 8.8% during the third quarter. Barclays PLC now owns 173,359 shares of the company’s stock worth $203,000 after buying an additional 14,021 shares during the period. Finally, Brown Advisory Inc. raised its holdings in American Well by 36.6% in the third quarter. Brown Advisory Inc. now owns 56,611 shares of the company’s stock valued at $66,000 after acquiring an additional 15,170 shares in the last quarter. Hedge funds and other 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.