American Well Corporation (NYSE:AMWL) Receives Consensus Rating of “Hold” from Analysts

American Well Corporation (NYSE:AMWL) has been assigned an average recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $7.4167.

Several brokerages recently commented on AMWL. Wells Fargo & Company reduced their target price on American Well from $12.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Morgan Stanley reduced their price objective on shares of American Well from $10.50 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 18th. Stifel Nicolaus decreased their price objective on shares of American Well from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Friday, February 13th. Weiss Ratings restated a “sell (e+)” rating on shares of American Well in a report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of American Well from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th.

American Well Stock Down 1.7%

NYSE AMWL opened at $5.36 on Tuesday. The company has a market capitalization of $88.71 million, a price-to-earnings ratio of -0.90 and a beta of 1.36. American Well has a twelve month low of $3.71 and a twelve month high of $12.00. The stock has a fifty day simple moving average of $4.83 and a 200 day simple moving average of $5.35.

American Well (NYSE:AMWL) last released its quarterly earnings results on Thursday, February 12th. The company reported ($1.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.07. The firm had revenue of $55.31 million for the quarter, compared to analyst estimates of $52.71 million. American Well had a negative return on equity of 35.33% and a negative net margin of 38.38%. Research analysts expect that American Well will post -9.34 earnings per share for the current fiscal year.

Insider Activity at American Well

In related news, insider Dmitry Zamansky sold 6,243 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $4.85, for a total transaction of $30,278.55. Following the completion of the sale, the insider owned 191,468 shares of the company’s stock, valued at $928,619.80. This trade represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 14,633 shares of company stock worth $67,972. 12.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Well

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC acquired a new stake in shares of American Well during the 2nd quarter worth approximately $39,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in American Well during the third quarter worth $62,000. Occudo Quantitative Strategies LP bought a new position in American Well during the fourth quarter worth $74,000. NewEdge Advisors LLC acquired a new stake in American Well in the fourth quarter worth $82,000. Finally, Prelude Capital Management LLC bought a new stake in American Well in the third quarter valued at $86,000. 56.05% of the stock is currently owned by institutional investors.

American Well Company Profile

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.