American Well Corporation (NYSE:AMWL) Stock Now Rated “Hold” by Wall Street Analysts

American Well Corporation (NYSE:AMWL) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $9.50.

AMWL has been the topic of several analyst reports. Wells Fargo & Company upped their target price on American Well from $9.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of American Well in a research report on Friday, July 17th. Truist Financial set a $12.00 price target on American Well and gave the company a “hold” rating in a research note on Thursday, August 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a research report on Wednesday, August 5th.

Insider Buying and Selling

In related news, insider Phyllis Gotlib sold 6,677 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $13.00, for a total value of $86,801.00. Following the completion of the transaction, the insider directly owned 142,504 shares of the company’s stock, valued at approximately $1,852,552. This trade represents a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dmitry Zamansky sold 8,442 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $13.00, for a total transaction of $109,746.00. Following the transaction, the insider owned 224,178 shares in the company, valued at approximately $2,914,314. The trade was a 3.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 19,457 shares of company stock worth $248,519. Company insiders own 12.84% of the company’s stock.

Institutional Trading of American Well

An institutional investor recently raised its position in American Well stock. Senvest Management LLC raised its position in American Well Corporation (NYSE:AMWL) by 213.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,136,558 shares of the company’s stock after acquiring an additional 773,834 shares during the quarter. Senvest Management LLC owned approximately 6.87% of American Well worth $5,978,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 56.05% of the company’s stock.

American Well Price Performance

Shares of NYSE:AMWL opened at $12.67 on Wednesday. The company’s 50-day moving average price is $12.70 and its two-hundred day moving average price is $9.75. American Well has a one year low of $3.71 and a one year high of $14.19. The stock has a market capitalization of $209.62 million, a PE ratio of -2.66 and a beta of 1.67.

American Well (NYSE:AMWL) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.27. The company had revenue of $52.05 million during the quarter, compared to the consensus estimate of $49.87 million. American Well had a negative net margin of 35.75% and a negative return on equity of 30.12%. On average, analysts anticipate that American Well will post -2.56 earnings per share for the current fiscal year.

About American Well

American Well Corporation, doing business as Amwell, is a digital health company that provides technology and services for virtual care. Its platform connects patients with healthcare professionals through video and other digital channels, supporting services such as urgent care, behavioral health, primary care, specialty care and chronic-condition management.

Amwell also provides software and infrastructure that enable health systems, health plans, employers and government organizations to offer and manage digital healthcare programs.