American Well Co. (NYSE:AMWL) Short Interest Update

by · The Markets Daily

American Well Co. (NYSE:AMWL – Get Free Report) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totalling 482,600 shares, a decline of 5.6% from the September 15th total of 511,100 shares. Approximately 4.2% of the company’s stock are short sold. Based on an average daily volume of 112,500 shares, the short-interest ratio is currently 4.3 days.

American Well Stock Performance

Shares of NYSE:AMWL opened at $10.13 on Wednesday. American Well has a 52-week low of $5.00 and a 52-week high of $31.60. The company has a market cap of $150.16 million, a P/E ratio of -0.41 and a beta of 1.05. The stock’s 50-day moving average is $8.98 and its 200-day moving average is $9.26.

American Well (NYSE:AMWL – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($3.36) EPS for the quarter, topping the consensus estimate of ($3.94) by $0.58. American Well had a negative return on equity of 50.36% and a negative net margin of 120.44%. The company had revenue of $62.79 million for the quarter, compared to the consensus estimate of $60.78 million. During the same period in the previous year, the business posted ($4.60) EPS. As a group, equities analysts predict that American Well will post -13.46 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMWL. Wells Fargo & Company reduced their price target on 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 report on Tuesday, September 24th.

View Our Latest Research Report on AMWL

Insider Activity at American Well

In other American Well news, 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 transaction of $40,742.99. Following the completion of the sale, the chief financial officer now owns 112,992 shares of the company’s stock, valued at $889,247.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other American Well news, insider Kathy Johnson Weiler sold 7,266 shares of American Well stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total value of $57,183.42. Following the completion of the sale, the insider now directly owns 188,027 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Shepardson sold 5,177 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $40,742.99. Following the transaction, the chief financial officer now owns 112,992 shares in the company, valued at $889,247.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,141 shares of company stock valued at $178,729. Corporate insiders own 12.80% of the company’s stock.

Institutional Trading of American Well

Several hedge funds and other institutional investors have recently bought and sold shares of AMWL. Rock Point Advisors LLC increased its stake in American Well by 1.9% during the second quarter. Rock Point Advisors LLC now owns 2,308,617 shares of the company’s stock valued at $750,000 after acquiring an additional 43,500 shares during the period. Oak Thistle LLC acquired a new position in shares of American Well in the first quarter valued at $46,000. Point72 DIFC Ltd lifted its position in American Well by 1,418.5% in the second quarter. Point72 DIFC Ltd now owns 103,457 shares of the company’s stock worth $34,000 after purchasing an additional 96,644 shares during the period. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $235,000 after buying an additional 124,441 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of American Well by 7,673.8% during the 2nd 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 during the period. 56.05% of the stock is currently owned by institutional investors and hedge funds.

About American Well

(Get Free Report)

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.

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