American Well Corporation (NYSE:AMWL) Given Consensus Recommendation of “Hold” by Analysts

American Well Corporation (NYSE:AMWL) has received an average rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $7.5833.

AMWL has been the topic of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of American Well from $12.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Stifel Nicolaus decreased their price target on shares of American Well from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings restated a “sell (e+)” rating on shares of American Well in a research report on Wednesday, January 21st. Morgan Stanley cut their price objective on shares of American Well from $10.50 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, December 18th. Finally, Wall Street Zen cut shares of American Well from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th.

American Well Stock Performance

Shares of NYSE:AMWL opened at $4.67 on Friday. The stock’s 50-day moving average is $4.58 and its 200-day moving average is $5.77. The company has a market cap of $76.37 million, a P/E ratio of -0.65 and a beta of 1.26. American Well has a 52-week low of $3.71 and a 52-week high of $12.95.

American Well (NYSE:AMWL) last announced its earnings results on Tuesday, November 4th. The company reported ($1.74) earnings per share for the quarter, beating the consensus estimate of ($1.83) by $0.09. The firm had revenue of $56.29 million during the quarter, compared to the consensus estimate of $54.56 million. American Well had a negative return on equity of 39.80% and a negative net margin of 42.80%. As a group, equities analysts predict that American Well will post -9.34 EPS for the current year.

Insider Activity at American Well

In other news, insider Dmitry Zamansky sold 6,243 shares of American Well 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 sale, the insider owned 191,468 shares of the company’s stock, valued at approximately $928,619.80. This trade represents a 3.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 14,633 shares of company stock valued at $67,972. 11.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Rock Point Advisors LLC boosted its stake in American Well by 49.3% during the third quarter. Rock Point Advisors LLC now owns 259,171 shares of the company’s stock worth $1,594,000 after buying an additional 85,581 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of American Well by 280.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock worth $510,000 after acquiring an additional 47,745 shares during the period. Jane Street Group LLC boosted its position in shares of American Well by 232.9% during the 1st quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock valued at $505,000 after acquiring an additional 44,852 shares in the last quarter. Norges Bank bought a new stake in American Well in the second quarter valued at about $250,000. Finally, GSA Capital Partners LLP bought a new stake in American Well in the third quarter valued at about $173,000. 56.05% of the stock is currently owned by institutional investors and hedge funds.

About American Well

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.