American Well’s (AMWL) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of American Well (NYSE:AMWL) in a research report report published on Friday morning,Benzinga reports.

Other research analysts have also issued research reports about the stock. Truist Financial cut their price target on shares of American Well from $12.00 to $7.50 and set a “hold” rating on the stock in a research note on Thursday, April 10th. 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. Finally, Stifel Nicolaus increased their target price on shares of American Well from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.60.

American Well Stock Performance

NYSE AMWL opened at $7.40 on Friday. American Well has a 52-week low of $5.00 and a 52-week high of $12.95. The firm’s 50 day moving average price is $7.70 and its 200-day moving average price is $8.82. The company has a market cap of $115.51 million, a PE ratio of -0.53 and a beta of 1.22.

American Well (NYSE:AMWL) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($1.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.09) by $1.36. The firm had revenue of $66.83 million for the quarter, compared to the consensus estimate of $60.15 million. American Well had a negative net margin of 81.83% and a negative return on equity of 56.73%. On average, analysts forecast that American Well will post -9.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other American Well news, insider Phyllis Gotlib sold 4,781 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $8.80, for a total value of $42,072.80. Following the completion of the sale, the insider now owns 147,998 shares in the company, valued at approximately $1,302,382.40. This represents a 3.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On American Well

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMWL. Takeda Pharmaceutical Co. Ltd. purchased a new stake in shares of American Well during the 4th quarter valued at approximately $564,000. Senvest Management LLC boosted its holdings in American Well by 3.9% during the 4th quarter. Senvest Management LLC now owns 1,300,611 shares of the company’s stock valued at $9,429,000 after acquiring an additional 48,800 shares during the period. Norges Bank purchased a new position in shares of American Well in the fourth quarter valued at approximately $204,000. 4D Advisors LLC purchased a new position in American Well in the 4th quarter valued at approximately $1,088,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in American Well in the fourth quarter valued at $45,000. Institutional investors and hedge funds 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.