American Well Co. (NYSE:AMWL) Short Interest Update

American Well Co. (NYSE:AMWL) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 482,600 shares, a decline of 5.6% from the September 15th total of 511,100 shares. Approximately 4.2% of the company’s stock are short sold. Based on an average daily trading volume, of 112,500 shares, the short-interest ratio is presently 4.3 days.

Analysts Set New Price Targets

Several analysts have weighed in on AMWL shares. Wells Fargo & Company lowered their target price on shares of 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. Needham & Company LLC restated a “hold” rating on shares of American Well in a research report on Tuesday, September 24th.

American Well Stock Performance

American Well stock opened at $10.28 on Thursday. The company has a 50-day simple moving average of $9.02 and a 200-day simple moving average of $9.27. The firm has a market capitalization of $152.38 million, a P/E ratio of -0.42 and a beta of 1.05. American Well has a one year low of $5.00 and a one year high of $31.60.

American Well (NYSE:AMWL) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($3.36) earnings per share for the quarter, topping the consensus estimate of ($3.94) by $0.58. The business had revenue of $62.79 million during the quarter, compared to the consensus estimate of $60.78 million. American Well had a negative net margin of 120.44% and a negative return on equity of 50.36%. During the same quarter in the prior year, the company posted ($4.60) earnings per share. As a group, sell-side analysts forecast that American Well will post -13.46 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Kathy Johnson Weiler sold 7,266 shares of American Well stock in a transaction 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 approximately $1,479,772.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other American Well news, insider Kathy Johnson Weiler sold 7,266 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Shepardson sold 5,177 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $40,742.99. Following the sale, the chief financial officer now owns 112,992 shares of the company’s stock, valued at approximately $889,247.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,141 shares of company stock worth $178,729. Insiders own 12.80% of the company’s stock.

Institutional Investors Weigh In On American Well

Several institutional investors have recently bought and sold shares of AMWL. Point72 DIFC Ltd lifted its holdings in American Well by 1,418.5% in the second quarter. Point72 DIFC Ltd now owns 103,457 shares of the company’s stock worth $34,000 after purchasing an additional 96,644 shares during the period. Oak Thistle LLC acquired a new stake in American Well in the first quarter worth about $46,000. Cubist Systematic Strategies LLC lifted its holdings in American Well by 7,673.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock valued at $60,000 after acquiring an additional 181,715 shares during the last quarter. Cowen AND Company LLC acquired a new stake in American Well in the 2nd quarter valued at about $81,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in American Well by 2,690.2% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 419,841 shares of the company’s stock valued at $136,000 after acquiring an additional 404,794 shares during the last quarter. Institutional investors and hedge funds 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.