American Well’s (AMWL) “Hold” Rating Reiterated at Needham & Company LLC

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

Separately, Morgan Stanley reduced their price target on American Well from $1.75 to $1.00 and set an equal weight rating for the company in a research report on Monday, April 15th.

American Well Stock Up 9.6 %

NYSE AMWL opened at $0.57 on Thursday. The company has a 50-day moving average price of $0.78 and a 200-day moving average price of $1.06. American Well has a 52 week low of $0.45 and a 52 week high of $2.74.

American Well (NYSE:AMWL) last announced its earnings results on Wednesday, May 1st. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $59.52 million for the quarter, compared to analysts’ expectations of $61.10 million. During the same period in the prior year, the company posted ($0.24) earnings per share. On average, equities analysts predict that American Well will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling at American Well

In related news, CFO Robert Shepardson sold 319,214 shares of American Well stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Robert Shepardson sold 319,214 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $1.09, for a total transaction of $347,943.26. Following the completion of the sale, the chief financial officer now owns 2,845,148 shares in the company, valued at $3,101,211.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kurt Knight sold 283,079 shares of the business’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 value of $308,556.11. Following the completion of the transaction, the chief operating officer now directly owns 3,114,004 shares in the company, valued at $3,394,264.36. The disclosure for this sale can be found here. Insiders have sold 1,168,915 shares of company stock valued at $1,261,161 over the last 90 days. 12.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American Well

Hedge funds have recently made changes to their positions in the company. Senvest Management LLC lifted its position in 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 purchasing an additional 813,244 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of American Well by 75.5% during the 3rd quarter. GSA Capital Partners LLP now owns 716,830 shares of the company’s stock valued at $839,000 after buying an additional 308,418 shares in the last quarter. Versor Investments LP bought a new position in shares of American Well in the 3rd quarter valued at about $294,000. Rock Point Advisors LLC grew its position in American Well by 9.5% in the fourth quarter. Rock Point Advisors LLC now owns 2,062,582 shares of the company’s stock worth $3,073,000 after acquiring an additional 179,061 shares in the last quarter. Finally, Sapient Capital LLC bought a new stake in American Well during the fourth quarter worth approximately $247,000. 56.05% of the stock is currently owned by hedge funds and other institutional investors.

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.