American Well (NYSE:AMWL) Price Target Lowered to $1.00 at Morgan Stanley

American Well (NYSE:AMWL) had its target price decreased by Morgan Stanley from $1.75 to $1.00 in a report issued on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

American Well Stock Down 3.1 %

Shares of NYSE AMWL opened at $0.56 on Monday. The firm’s 50-day moving average price is $0.95 and its 200-day moving average price is $1.12. The company has a market cap of $161.23 million, a PE ratio of -0.23 and a beta of 1.00. American Well has a 52-week low of $0.54 and a 52-week high of $2.74.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. The firm had revenue of $70.68 million for the quarter, compared to the consensus estimate of $70.16 million. American Well had a negative net margin of 260.63% and a negative return on equity of 40.19%. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.22) EPS. As a group, equities research analysts anticipate that American Well will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Kathy Johnson Weiler sold 283,192 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $308,679.28. Following the transaction, the insider now owns 3,975,617 shares of the company’s stock, valued at $4,333,422.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other American Well news, EVP Vukasin Paunovich sold 251,323 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total transaction of $273,942.07. Following the sale, the executive vice president now owns 2,535,635 shares in the company, valued at approximately $2,763,842.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kathy Johnson Weiler sold 283,192 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total transaction of $308,679.28. Following the sale, the insider now owns 3,975,617 shares in the company, valued at approximately $4,333,422.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,169,038 shares of company stock valued at $1,267,410. 12.94% of the stock is owned by insiders.

Institutional Investors Weigh In On American Well

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its stake in American Well by 75.5% during the 3rd quarter. GSA Capital Partners LLP now owns 716,830 shares of the company’s stock worth $839,000 after acquiring an additional 308,418 shares during the period. Versor Investments LP bought a new stake in shares of American Well during the third quarter valued at approximately $294,000. Quadrature Capital Ltd bought a new stake in shares of American Well during the third quarter valued at approximately $36,000. Barclays PLC raised its position in shares of American Well by 8.8% during the third quarter. Barclays PLC now owns 173,359 shares of the company’s stock valued at $203,000 after buying an additional 14,021 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of American Well by 2.3% during the third quarter. Swiss National Bank now owns 463,200 shares of the company’s stock valued at $542,000 after buying an additional 10,500 shares during the last quarter. 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.