American Well Corporation (NYSE:AMWL) Receives Average Rating of “Hold” from Brokerages

Shares of American Well Corporation (NYSE:AMWL) have received a consensus recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $7.5833.

A number of research analysts recently weighed in on AMWL shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of American Well in a report on Wednesday, January 21st. Stifel Nicolaus decreased their price objective on shares of American Well from $8.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. Wells Fargo & Company reduced their price target on shares of American Well from $12.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Morgan Stanley reduced their price target on shares of American Well from $10.50 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, December 18th. Finally, Wall Street Zen lowered American Well from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

Insider Activity at American Well

In related news, insider Dmitry Zamansky sold 6,243 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $4.85, for a total transaction of $30,278.55. Following the completion of the sale, the insider directly owned 191,468 shares of the company’s stock, valued at $928,619.80. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 14,633 shares of company stock valued at $67,972. 12.80% of the stock is owned by insiders.

Hedge Funds Weigh In On American Well

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rock Point Advisors LLC raised its position in American Well by 49.3% during the third quarter. Rock Point Advisors LLC now owns 259,171 shares of the company’s stock valued at $1,594,000 after buying an additional 85,581 shares during the period. Goldman Sachs Group Inc. grew its holdings in American Well by 280.6% during the first quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock valued at $510,000 after purchasing an additional 47,745 shares during the last quarter. Jane Street Group LLC grew its position in shares of American Well by 232.9% in the first quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock valued at $505,000 after purchasing an additional 44,852 shares during the last quarter. Norges Bank acquired a new stake in shares of American Well in the second quarter worth $250,000. Finally, GSA Capital Partners LLP bought a new position in American Well during the third quarter valued at about $173,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

American Well Stock Down 5.0%

Shares of NYSE:AMWL opened at $4.35 on Friday. The company has a market capitalization of $71.21 million, a P/E ratio of -0.60 and a beta of 1.36. The stock’s fifty day simple moving average is $4.61 and its 200-day simple moving average is $5.66. American Well has a 52-week low of $3.71 and a 52-week high of $12.95.

American Well (NYSE:AMWL) last announced its earnings results on Tuesday, November 4th. The company reported ($1.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.83) by $0.09. American Well had a negative net margin of 42.80% and a negative return on equity of 39.80%. The firm had revenue of $56.29 million for the quarter, compared to analyst estimates of $54.56 million. On average, sell-side analysts anticipate that American Well will post -9.34 earnings per share for the current year.

American Well Company Profile

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.