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

American Well Co. (NYSE:AMWL) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 422,900 shares, a drop of 53.5% from the June 30th total of 909,200 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average daily trading volume, of 157,100 shares, the days-to-cover ratio is currently 2.7 days.

Hedge Funds Weigh In On American Well

A number of institutional investors have recently bought and sold shares of AMWL. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of American Well in the 1st quarter valued at approximately $1,284,000. Acadian Asset Management LLC raised its stake in shares of American Well by 193.0% in the 1st quarter. Acadian Asset Management LLC now owns 2,083,805 shares of the company’s stock valued at $1,687,000 after acquiring an additional 1,372,582 shares during the period. Senvest Management LLC raised its stake 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 acquiring an additional 507,340 shares during the period. Vanguard Group Inc. raised its stake in shares of American Well by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 13,398,096 shares of the company’s stock valued at $10,862,000 after acquiring an additional 190,922 shares during the period. Finally, Rock Point Advisors LLC raised its stake in shares of American Well by 9.5% in the 4th quarter. Rock Point Advisors LLC now owns 2,062,582 shares of the company’s stock valued at $3,073,000 after acquiring an additional 179,061 shares during the period. 56.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on AMWL shares. Needham & Company LLC restated a “hold” rating on shares of American Well in a research report on Thursday, May 2nd. Morgan Stanley lowered their price target on shares of American Well from $35.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. Finally, UBS Group lowered their price target on shares of American Well from $30.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, May 23rd.

American Well Trading Up 5.9 %

AMWL stock traded up $0.49 during trading on Friday, reaching $8.84. 83,349 shares of the stock were exchanged, compared to its average volume of 286,882. The business has a 50 day moving average price of $7.90 and a 200-day moving average price of $14.04. American Well has a 1 year low of $5.00 and a 1 year high of $49.40. The firm has a market capitalization of $131.01 million, a price-to-earnings ratio of -0.36 and a beta of 1.03.

American Well (NYSE:AMWL) last issued its earnings results on Wednesday, May 1st. The company reported ($5.00) EPS for the quarter, missing analysts’ consensus estimates of ($3.60) by ($1.40). American Well had a negative return on equity of 46.76% and a negative net margin of 137.32%. The firm had revenue of $59.52 million for the quarter, compared to analysts’ expectations of $61.10 million. During the same period last year, the firm earned ($4.80) earnings per share. On average, research analysts anticipate that American Well will post -15.9 EPS for the current year.

American Well Company Profile

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.