American Well Corporation (NYSE:AMWL) Short Interest Down 15.7% in March

American Well Corporation (NYSE:AMWL) saw a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 258,208 shares, a decrease of 15.7% from the February 26th total of 306,239 shares. Based on an average trading volume of 87,773 shares, the days-to-cover ratio is presently 2.9 days. Approximately 1.8% of the company’s stock are sold short.

Analysts Set New Price Targets

AMWL has been the subject of several recent research reports. Wall Street Zen upgraded shares of American Well from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of American Well in a research note on Wednesday, January 21st. Stifel Nicolaus reduced 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 note on Friday, February 13th. Finally, Morgan Stanley lowered their target price on American Well from $10.50 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, December 18th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, American Well presently has a consensus rating of “Hold” and an average price target of $7.42.

Insider Transactions at American Well

In other American Well news, insider Dmitry Zamansky sold 6,243 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $4.85, for a total transaction of $30,278.55. Following the transaction, the insider directly owned 191,468 shares in the company, valued at $928,619.80. This represents a 3.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 10,334 shares of company stock worth $50,120. 12.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Well

Several institutional investors and hedge funds have recently bought and sold shares of AMWL. Headlands Technologies LLC acquired a new position in shares of American Well during the second quarter worth $39,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of American Well in the 3rd quarter worth $62,000. Occudo Quantitative Strategies LP purchased a new position in American Well during the 4th quarter worth $74,000. NewEdge Advisors LLC purchased a new position in American Well during the 4th quarter worth $82,000. Finally, Prelude Capital Management LLC acquired a new position in American Well during the 3rd quarter valued at about $86,000. 56.05% of the stock is owned by hedge funds and other institutional investors.

American Well Stock Performance

Shares of American Well stock opened at $5.29 on Monday. The company has a market capitalization of $87.53 million, a PE ratio of -0.89 and a beta of 1.34. The company has a 50-day simple moving average of $5.17 and a two-hundred day simple moving average of $5.11. American Well has a one year low of $3.71 and a one year high of $9.15.

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

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.