American Well Co. (NYSE:AMWL) Sees Large Decrease in Short Interest

American Well Co. (NYSE:AMWL) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 445,500 shares, a decline of 7.7% from the September 30th total of 482,600 shares. Approximately 3.8% of the shares of the company are sold short. Based on an average daily trading volume, of 88,100 shares, the short-interest ratio is presently 5.1 days.

Insiders Place Their Bets

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

Institutional Investors Weigh In On American Well

Institutional investors and hedge funds have recently modified their holdings of the company. Oak Thistle LLC purchased a new stake in American Well during the first quarter worth $46,000. Point72 DIFC Ltd grew its stake in American Well by 1,418.5% in the 2nd quarter. Point72 DIFC Ltd now owns 103,457 shares of the company’s stock valued at $34,000 after acquiring an additional 96,644 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in American Well by 7,673.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock valued at $60,000 after acquiring an additional 181,715 shares in the last quarter. Cowen AND Company LLC acquired a new position in American Well during the second quarter worth about $81,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of American Well by 75.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 289,318 shares of the company’s stock valued at $235,000 after purchasing an additional 124,441 shares in the last quarter. Institutional investors and hedge funds own 56.05% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AMWL. Wells Fargo & Company cut their price objective on shares of American Well from $40.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC restated a “hold” rating on shares of American Well in a research report on Thursday.

American Well Price Performance

American Well stock traded down $0.19 during midday trading on Friday, reaching $8.97. The company’s stock had a trading volume of 7,505 shares, compared to its average volume of 110,797. American Well has a fifty-two week low of $5.00 and a fifty-two week high of $31.60. The stock’s 50 day simple moving average is $9.34 and its 200 day simple moving average is $8.97.

American Well (NYSE:AMWL) last announced 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. American Well had a negative net margin of 84.27% and a negative return on equity of 50.12%. The firm had revenue of $61.05 million during the quarter, compared to analysts’ expectations of $62.06 million. As a group, analysts predict that American Well will post -13.46 earnings per share for the current fiscal year.

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.