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

Needham & Company LLC restated their hold rating on shares of American Well (NYSE:AMWL) in a research report released on Tuesday morning, Benzinga reports.

Separately, Wells Fargo & Company decreased their target price on American Well from $40.00 to $15.00 and set an equal weight rating on the stock in a report on Tuesday, August 6th.

American Well Stock Up 0.4 %

Shares of American Well stock opened at $9.50 on Tuesday. American Well has a 12-month low of $5.00 and a 12-month high of $31.60. The stock has a market cap of $140.82 million, a P/E ratio of -0.39 and a beta of 1.04. The business’s 50 day moving average is $8.83 and its 200-day moving average is $10.02.

American Well (NYSE:AMWL) last posted its earnings results on Wednesday, July 31st. The company reported ($3.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.94) by $0.58. The business had revenue of $62.79 million for the quarter, compared to analyst estimates of $60.78 million. American Well had a negative return on equity of 50.36% and a negative net margin of 120.44%. During the same period in the previous year, the firm earned ($4.60) EPS. On average, sell-side analysts expect that American Well will post -13.91 EPS for the current year.

Insider Buying and Selling

In other American Well news, insider Kathy Johnson Weiler sold 7,266 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total value of $57,183.42. Following the transaction, the insider now directly owns 188,027 shares of the company’s stock, valued at approximately $1,479,772.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other American Well news, insider Kathy Johnson Weiler sold 7,266 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total value of $57,183.42. Following the transaction, the insider now directly owns 188,027 shares of the company’s stock, valued at approximately $1,479,772.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Shepardson sold 5,177 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total value of $40,742.99. Following the completion of the transaction, the chief financial officer now directly owns 112,992 shares in the company, valued at $889,247.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,137 shares of company stock valued at $169,765. 12.80% of the stock is owned by insiders.

Institutional Trading of American Well

Several large investors have recently modified their holdings of the stock. Aristides Capital LLC bought a new stake in shares of American Well during the 4th quarter worth $224,000. Point72 DIFC Ltd lifted its position in shares of American Well by 1,418.5% during the 2nd quarter. Point72 DIFC Ltd now owns 103,457 shares of the company’s stock worth $34,000 after buying an additional 96,644 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of American Well by 63.9% during the 2nd quarter. Renaissance Technologies LLC now owns 6,833,500 shares of the company’s stock worth $2,220,000 after buying an additional 2,665,300 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of American Well by 2,690.2% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 419,841 shares of the company’s stock worth $136,000 after buying an additional 404,794 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of American Well by 80.5% during the 2nd quarter. Acadian Asset Management LLC now owns 3,761,310 shares of the company’s stock worth $1,220,000 after buying an additional 1,677,505 shares during the last quarter. 56.05% of the stock is owned by institutional investors and hedge funds.

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.