American Well (NYSE:AMWL) Given “Hold” Rating at Needham & Company LLC

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

Separately, Wells Fargo & Company cut their price objective on American Well from $40.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th.

American Well Stock Down 5.1 %

NYSE:AMWL opened at $9.16 on Thursday. The firm has a market capitalization of $137.32 million, a P/E ratio of -0.43 and a beta of 1.05. The company has a fifty day moving average of $9.34 and a 200 day moving average of $8.97. American Well has a 52 week low of $5.00 and a 52 week high of $31.60.

American Well (NYSE:AMWL) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($2.87) EPS for the quarter, beating the consensus estimate of ($3.32) by $0.45. The firm had revenue of $61.05 million during the quarter, compared to the consensus estimate of $62.06 million. American Well had a negative net margin of 120.44% and a negative return on equity of 50.36%. As a group, analysts anticipate that American Well will post -13.46 EPS for the current year.

Insider Activity

In related news, CFO Robert Shepardson sold 5,177 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total value of $40,742.99. Following the completion of the transaction, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at $889,247.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Kathy Johnson Weiler sold 7,266 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $57,183.42. Following the sale, the insider now owns 188,027 shares of the company’s stock, valued at $1,479,772.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Shepardson sold 5,177 shares of American Well stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total value of $40,742.99. Following the transaction, the chief financial officer now owns 112,992 shares of the company’s stock, valued at $889,247.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,640 shares of company stock valued at $173,939. Corporate insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On American Well

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd grew its stake in shares of American Well by 1,418.5% during the 2nd quarter. Point72 DIFC Ltd now owns 103,457 shares of the company’s stock valued at $34,000 after purchasing an additional 96,644 shares during the period. Cubist Systematic Strategies LLC grew its position in American Well by 7,673.8% in the second quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock worth $60,000 after acquiring an additional 181,715 shares in the last quarter. Cowen AND Company LLC bought a new position in shares of American Well during the 2nd quarter valued at approximately $81,000. Point72 Asia Singapore Pte. Ltd. increased its position in American Well by 2,690.2% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 419,841 shares of the company’s stock valued at $136,000 after acquiring an additional 404,794 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in American Well by 75.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 289,318 shares of the company’s stock worth $235,000 after purchasing an additional 124,441 shares during the period. 56.05% of the stock is owned by institutional investors.

American Well Company Profile

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.