Short Interest in American Well Co. (NYSE:AMWL) Increases By 7.9%

American Well Co. (NYSE:AMWL) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 383,100 shares, an increase of 7.9% from the January 15th total of 355,000 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average daily volume of 58,900 shares, the days-to-cover ratio is presently 6.5 days.

Wall Street Analyst Weigh In

AMWL has been the subject of several recent analyst reports. Truist Financial increased their target price on American Well from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Friday. Morgan Stanley decreased their target price on American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Wells Fargo & Company raised American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price target for the company in a report on Monday, January 13th. Stifel Nicolaus upped their price target on American Well from $9.00 to $10.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.90.

Hedge Funds Weigh In On American Well

Hedge funds have recently modified their holdings of the stock. Compagnie Lombard Odier SCmA acquired a new position in shares of American Well in the 4th quarter worth approximately $45,000. BNP Paribas Financial Markets acquired a new stake in American Well during the 3rd quarter valued at $95,000. OMERS ADMINISTRATION Corp acquired a new stake in American Well during the 4th quarter valued at $76,000. PDT Partners LLC acquired a new stake in American Well during the 3rd quarter valued at $107,000. Finally, Walleye Capital LLC acquired a new stake in American Well during the 3rd quarter valued at $167,000. 56.05% of the stock is owned by institutional investors and hedge funds.

American Well Price Performance

Shares of AMWL traded down $0.34 during mid-day trading on Tuesday, reaching $11.83. The company had a trading volume of 178,430 shares, compared to its average volume of 72,795. American Well has a twelve month low of $5.00 and a twelve month high of $26.40. The company’s 50-day moving average is $9.41 and its 200-day moving average is $9.19. The company has a market capitalization of $181.16 million, a P/E ratio of -0.81 and a beta of 1.18.

American Well (NYSE:AMWL) last issued its earnings results on Wednesday, February 12th. The company reported ($2.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.04) by $0.27. American Well had a negative return on equity of 52.49% and a negative net margin of 84.27%. As a group, equities analysts expect that American Well will post -13.38 EPS for the current fiscal year.

American Well Company Profile

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.