Short Interest in American Well Co. (NYSE:AMWL) Rises By 42.5%

American Well Co. (NYSE:AMWL) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 18,270,000 shares, a growth of 42.5% from the May 31st total of 12,820,000 shares. Based on an average trading volume of 2,430,000 shares, the short-interest ratio is presently 7.5 days.

Wall Street Analysts Forecast Growth

AMWL has been the subject of several recent research reports. Morgan Stanley reduced their target price on shares of American Well from $1.75 to $1.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research report on Thursday, May 2nd. Finally, UBS Group decreased their price objective on American Well from $1.50 to $0.60 and set a “neutral” rating for the company in a report on Thursday, May 23rd.

American Well Price Performance

AMWL stock traded down $0.06 during trading hours on Monday, reaching $0.27. The stock had a trading volume of 6,165,655 shares, compared to its average volume of 2,243,258. The stock has a 50-day simple moving average of $0.46 and a 200 day simple moving average of $0.85. American Well has a fifty-two week low of $0.25 and a fifty-two week high of $2.47. The stock has a market capitalization of $79.21 million, a PE ratio of -0.24 and a beta of 1.04.

American Well shares are scheduled to reverse split on the morning of Thursday, July 11th. The 1-20 reverse split was announced on Thursday, July 11th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, July 11th.

American Well (NYSE:AMWL) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07). The firm had revenue of $59.52 million for the quarter, compared to the consensus estimate of $61.10 million. American Well had a negative return on equity of 46.76% and a negative net margin of 137.32%. During the same quarter in the prior year, the firm earned ($0.24) EPS. On average, sell-side analysts forecast that American Well will post -0.75 EPS for the current fiscal year.

Institutional Trading of American Well

A number of institutional investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund bought a new position in American Well in the 1st quarter valued at about $1,284,000. Acadian Asset Management LLC lifted its stake in American Well by 193.0% during the first quarter. Acadian Asset Management LLC now owns 2,083,805 shares of the company’s stock worth $1,687,000 after purchasing an additional 1,372,582 shares during the last quarter. Senvest Management LLC boosted its holdings in shares of American Well by 2.2% in the 4th quarter. Senvest Management LLC now owns 23,529,964 shares of the company’s stock valued at $35,060,000 after purchasing an additional 507,340 shares in the last quarter. GSA Capital Partners LLP raised its stake in American Well by 75.5% during the third quarter. GSA Capital Partners LLP now owns 716,830 shares of the company’s stock worth $839,000 after acquiring an additional 308,418 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in American Well by 1.4% in the first quarter. Vanguard Group Inc. now owns 13,398,096 shares of the company’s stock valued at $10,862,000 after buying an additional 190,922 shares in the last quarter. Institutional investors own 56.05% of the company’s stock.

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.