American Well Corporation (NYSE:AMWL) Receives Consensus Rating of “Hold” from Analysts

Shares of American Well Corporation (NYSE:AMWL) have earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $9.50.

A number of equities analysts have recently commented on AMWL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Well in a report on Friday, July 17th. Truist Financial set a $12.00 price objective on American Well and gave the company a “hold” rating in a report on Thursday, August 13th. Wells Fargo & Company raised their target price on American Well from $9.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a report on Wednesday, August 5th.

Insider Transactions at American Well

In related news, insider Dmitry Zamansky sold 8,460 shares of American Well stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $9.33, for a total value of $78,931.80. Following the transaction, the insider directly owned 232,620 shares of the company’s stock, valued at $2,170,344.60. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Phyllis Gotlib sold 6,677 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.33, for a total value of $62,296.41. Following the completion of the sale, the insider owned 152,754 shares in the company, valued at $1,425,194.82. The trade was a 4.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,475 shares of company stock valued at $190,804 over the last 90 days. 12.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Well

A number of hedge funds have recently bought and sold shares of AMWL. Senvest Management LLC lifted its holdings in American Well by 213.3% in the first quarter. Senvest Management LLC now owns 1,136,558 shares of the company’s stock valued at $5,978,000 after buying an additional 773,834 shares during the period. Whetstone Capital Advisors LLC acquired a new stake in American Well during the 4th quarter worth about $123,000. Finally, Monaco Asset Management SAM bought a new position in shares of American Well in the 4th quarter worth about $338,000. Institutional investors own 56.05% of the company’s stock.

American Well Price Performance

American Well stock opened at $13.65 on Friday. The business has a 50 day moving average of $12.21 and a 200-day moving average of $8.94. American Well has a 1 year low of $3.71 and a 1 year high of $14.19. The company has a market capitalization of $225.99 million, a P/E ratio of -2.86 and a beta of 1.71.

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

American Well Company Profile

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, helping healthcare organizations deliver care remotely and integrate telehealth into their existing clinical operations.

Amwell’s offerings support a range of healthcare needs, including urgent care, primary care, behavioral health, specialty consultations and chronic condition management.