Needham & Company LLC Reaffirms “Hold” Rating for American Well (NYSE:AMWL)

Needham & Company LLC reiterated their hold rating on shares of American Well (NYSE:AMWL) in a research note released on Thursday, Benzinga reports.

Separately, Morgan Stanley reduced their price target 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.

American Well Stock Up 9.6 %

Shares of NYSE AMWL opened at $0.57 on Thursday. The company has a market cap of $164.87 million, a P/E ratio of -0.46 and a beta of 1.12. American Well has a 52 week low of $0.45 and a 52 week high of $2.74. The business has a 50-day simple moving average of $0.78 and a two-hundred day simple moving average of $1.07.

American Well (NYSE:AMWL) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The firm had revenue of $59.52 million during the quarter, compared to the consensus estimate 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 quarter last year, the business posted ($0.24) earnings per share. Equities research analysts anticipate that American Well will post -0.72 EPS for the current year.

Insider Buying and Selling at American Well

In other American Well news, EVP Vukasin Paunovich sold 251,323 shares of American Well 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 completion of the sale, the executive vice president now directly owns 2,535,635 shares in the company, valued at $2,763,842.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Vukasin Paunovich sold 251,323 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total value of $273,942.07. Following the transaction, the executive vice president now owns 2,535,635 shares of the company’s stock, valued at $2,763,842.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Kurt Knight sold 283,079 shares of American Well stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $1.09, for a total value of $308,556.11. Following the sale, the chief operating officer now directly owns 3,114,004 shares of the company’s stock, valued at approximately $3,394,264.36. The disclosure for this sale can be found here. Insiders have sold a total of 1,168,915 shares of company stock valued at $1,261,161 in the last 90 days. Corporate insiders own 12.94% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AMWL. Senvest Management LLC grew its holdings in shares of American Well by 3.7% during the 3rd quarter. Senvest Management LLC now owns 23,022,624 shares of the company’s stock valued at $26,936,000 after purchasing an additional 813,244 shares during the last quarter. GSA Capital Partners LLP boosted its position in American Well by 75.5% during the third quarter. GSA Capital Partners LLP now owns 716,830 shares of the company’s stock valued at $839,000 after buying an additional 308,418 shares during the period. Versor Investments LP bought a new position in shares of American Well during the third quarter valued at about $294,000. Rock Point Advisors LLC increased its holdings in shares of American Well by 9.5% in 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, Sapient Capital LLC bought a new stake in shares of American Well in the 4th quarter valued at about $247,000. 56.05% of the stock is currently owned by institutional investors.

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.