American Well Co. (NYSE:AMWL) Short Interest Down 20.4% in March

American Well Co. (NYSE:AMWL) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 344,300 shares, a decline of 20.4% from the February 28th total of 432,800 shares. Based on an average daily volume of 69,500 shares, the days-to-cover ratio is presently 5.0 days. Currently, 3.0% of the company’s shares are sold short.

Insider Activity at American Well

In related news, insider Phyllis Gotlib sold 4,781 shares of American Well stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.80, for a total value of $42,072.80. Following the transaction, the insider now owns 147,998 shares in the company, valued at approximately $1,302,382.40. This trade represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 5,219 shares of company stock worth $46,454. 12.80% of the stock is owned by company insiders.

Institutional Trading of American Well

A number of hedge funds have recently made changes to their positions in AMWL. Compagnie Lombard Odier SCmA bought a new position in American Well during the 4th quarter valued at $45,000. BNP Paribas Financial Markets acquired a new position in American Well in the third quarter worth about $95,000. OMERS ADMINISTRATION Corp bought a new stake in American Well in the fourth quarter valued at about $76,000. PDT Partners LLC acquired a new stake in American Well during the third quarter valued at approximately $107,000. Finally, Chancellor Financial Group WB LP bought a new position in American Well during the 4th quarter worth approximately $83,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

American Well Price Performance

American Well stock traded up $0.02 during midday trading on Wednesday, hitting $7.19. 48,307 shares of the stock were exchanged, compared to its average volume of 101,051. American Well has a 1 year low of $5.00 and a 1 year high of $17.17. The firm has a market cap of $112.24 million, a P/E ratio of -0.51 and a beta of 1.18. The company has a 50 day moving average price of $9.82 and a two-hundred day moving average price of $9.29.

American Well (NYSE:AMWL) last announced 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 56.73% and a negative net margin of 81.83%. As a group, analysts predict that American Well will post -9.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AMWL shares. 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 report on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research report on Thursday, February 13th. Truist Financial upped their price target on shares of American Well from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. Stifel Nicolaus increased 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, Wells Fargo & Company upgraded American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a research note on Monday, January 13th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.90.

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.