Insider Selling: American Well Co. (NYSE:AMWL) Director Sells 42,202 Shares of Stock

American Well Co. (NYSE:AMWL) Director Deborah C. Jackson sold 42,202 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $0.41, for a total value of $17,302.82. Following the completion of the sale, the director now owns 636,683 shares in the company, valued at approximately $261,040.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

American Well Trading Down 10.5 %

AMWL stock traded down $0.04 during mid-day trading on Wednesday, hitting $0.36. 2,278,002 shares of the company were exchanged, compared to its average volume of 1,949,729. American Well Co. has a 1-year low of $0.35 and a 1-year high of $2.47. The business has a 50 day simple moving average of $0.47 and a 200-day simple moving average of $0.86.

American Well (NYSE:AMWL) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). American Well had a negative net margin of 137.32% and a negative return on equity of 46.76%. The firm had revenue of $59.52 million during the quarter, compared to the consensus estimate of $61.10 million. During the same quarter last year, the firm earned ($0.24) earnings per share. As a group, analysts predict that American Well Co. will post -0.75 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group decreased their target price on American Well from $1.50 to $0.60 and set a “neutral” rating on the stock in a report on Thursday, May 23rd. Morgan Stanley reduced their price objective on shares of American Well from $1.75 to $1.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of American Well in a research report on Thursday, May 2nd.

Institutional Investors Weigh In On American Well

Institutional investors have recently modified their holdings of the business. Swiss National Bank increased its stake in American Well by 2.3% during the 3rd quarter. Swiss National Bank now owns 463,200 shares of the company’s stock worth $542,000 after acquiring an additional 10,500 shares during the period. Cito Capital Group LLC lifted its position in shares of American Well by 35.2% during the 3rd quarter. Cito Capital Group LLC now owns 52,104 shares of the company’s stock valued at $61,000 after acquiring an additional 13,552 shares during the period. Barclays PLC grew its holdings in shares of American Well by 8.8% during the 3rd quarter. Barclays PLC now owns 173,359 shares of the company’s stock worth $203,000 after purchasing an additional 14,021 shares in the last quarter. Madison Park Capital Advisors LLC acquired a new position in American Well in the fourth quarter valued at about $34,000. Finally, Quadrature Capital Ltd bought a new stake in American Well during the third quarter worth about $36,000. Institutional investors 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.