American Well’s (AMWL) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of American Well (NYSE:AMWL) in a research note published on Thursday, Benzinga reports.

Separately, Morgan Stanley dropped their price target on shares of American Well from $1.75 to $1.00 and set an equal weight rating on the stock in a report on Monday, April 15th.

American Well Stock Performance

Shares of AMWL stock opened at $0.57 on Thursday. American Well has a one year low of $0.45 and a one year high of $2.74. The company’s 50-day moving average is $0.78 and its 200 day moving average is $1.06. The company has a market capitalization of $164.87 million, a price-to-earnings ratio of -0.47 and a beta of 1.12.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.07). American Well had a negative net margin of 137.32% and a negative return on equity of 46.76%. 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 company posted ($0.24) earnings per share. As a group, research analysts predict that American Well will post -0.7 earnings per share for the current fiscal year.

Insider Transactions at American Well

In other news, CFO Robert Shepardson sold 319,214 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $347,943.26. Following the transaction, the chief financial officer now owns 2,845,148 shares in the company, valued at approximately $3,101,211.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other American Well news, EVP Vukasin Paunovich sold 251,323 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total transaction of $273,942.07. Following the sale, the executive vice president now owns 2,535,635 shares in the company, valued at approximately $2,763,842.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert Shepardson sold 319,214 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total transaction of $347,943.26. Following the sale, the chief financial officer now owns 2,845,148 shares in the company, valued at approximately $3,101,211.32. The disclosure for this sale can be found here. Insiders have sold 1,168,915 shares of company stock worth $1,261,161 in the last quarter. Company insiders own 12.94% of the company’s stock.

Institutional Investors Weigh In On American Well

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Senvest Management LLC raised its position in shares of American Well by 3.7% during the third quarter. Senvest Management LLC now owns 23,022,624 shares of the company’s stock valued at $26,936,000 after buying an additional 813,244 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of American Well by 75.5% in the third quarter. GSA Capital Partners LLP now owns 716,830 shares of the company’s stock valued at $839,000 after purchasing an additional 308,418 shares in the last quarter. Versor Investments LP purchased a new position in shares of American Well in the third quarter valued at $294,000. Rock Point Advisors LLC grew its holdings in shares of American Well by 9.5% in the fourth quarter. Rock Point Advisors LLC now owns 2,062,582 shares of the company’s stock valued at $3,073,000 after purchasing an additional 179,061 shares in the last quarter. Finally, Sapient Capital LLC purchased a new position in shares of American Well in the fourth quarter valued at $247,000. 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.