American Well (NYSE:AMWL) Shares Down 2%

American Well Co. (NYSE:AMWL) fell 2% during trading on Friday . The stock traded as low as $7.61 and last traded at $8.00. 15,958 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 119,976 shares. The stock had previously closed at $8.16.

Wall Street Analyst Weigh In

AMWL has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of American Well from $35.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. Needham & Company LLC restated a “hold” rating on shares of American Well in a research report on Thursday, May 2nd. Finally, UBS Group cut their target price on shares of American Well from $30.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, May 23rd.

American Well Price Performance

The business’s 50-day simple moving average is $8.31 and its 200-day simple moving average is $15.70. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -6.25 and a beta of 1.03.

American Well (NYSE:AMWL) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($5.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.60) by ($1.40). The firm had revenue of $59.52 million during the quarter, compared to analyst estimates of $61.10 million. American Well had a negative net margin of 137.32% and a negative return on equity of 46.76%. During the same period in the prior year, the firm earned ($4.80) EPS. As a group, sell-side analysts forecast that American Well Co. will post -0.75 EPS for the current year.

Hedge Funds Weigh In On American Well

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in American Well by 58.3% in the fourth quarter. SG Americas Securities LLC now owns 107,696 shares of the company’s stock valued at $160,000 after purchasing an additional 39,655 shares during the period. Sapient Capital LLC purchased a new stake in American Well during the fourth quarter worth approximately $247,000. Madison Park Capital Advisors LLC purchased a new stake in American Well during the fourth quarter worth approximately $34,000. Rock Point Advisors LLC grew its stake in American Well by 9.5% during the fourth quarter. Rock Point Advisors LLC now owns 2,062,582 shares of the company’s stock worth $3,073,000 after buying an additional 179,061 shares during the period. Finally, RPO LLC purchased a new stake in American Well during the fourth quarter worth approximately $85,000. 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.