Needham & Company LLC Reaffirms Hold Rating for American Well (NYSE:AMWL)

American Well (NYSE:AMWL)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley decreased their price objective on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Wells Fargo & Company raised shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price target for the company in a report on Monday, January 13th.

American Well Stock Performance

Shares of American Well stock opened at $12.17 on Thursday. American Well has a 1 year low of $5.00 and a 1 year high of $29.00. The firm’s 50-day simple moving average is $9.21 and its 200-day simple moving average is $9.12. The firm has a market cap of $186.44 million, a PE ratio of -0.83 and a beta of 1.18.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($2.77) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.04) by $0.27. American Well had a negative return on equity of 52.49% and a negative net margin of 84.27%. On average, equities analysts predict that American Well will post -13.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC increased its stake in shares of American Well by 7,673.8% during the second quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock valued at $60,000 after acquiring an additional 181,715 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of American Well during the 3rd quarter valued at $95,000. Walleye Capital LLC acquired a new position in shares of American Well during the 3rd quarter valued at $167,000. PDT Partners LLC acquired a new stake in shares of American Well in the third quarter valued at $107,000. Finally, HighTower Advisors LLC acquired a new stake in shares of American Well in the third quarter valued at $355,000. 56.05% of the stock is currently owned by institutional investors.

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.