American Well (NYSE:AMWL) Given Hold Rating at Needham & Company LLC

American Well (NYSE:AMWL)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

A number of other analysts have also commented on AMWL. Morgan Stanley reduced 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 research note on Tuesday, December 17th. Wells Fargo & Company upgraded 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 research report on Monday, January 13th.

American Well Stock Performance

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 moving average price is $9.21 and its two-hundred day moving average price is $9.12. The firm has a market cap of $186.44 million, a price-to-earnings ratio of -0.83 and a beta of 1.18.

American Well (NYSE:AMWL) last announced its earnings results on Wednesday, February 12th. The company reported ($2.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. As a group, equities analysts predict that American Well will post -13.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC grew its stake in American Well by 7,673.8% during the 2nd 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 in the last quarter. Takeda Pharmaceutical Co. Ltd. purchased a new stake in shares of American Well in the fourth quarter worth approximately $564,000. HighTower Advisors LLC acquired a new stake in shares of American Well during the third quarter worth approximately $355,000. Norges Bank purchased a new position in American Well during the fourth quarter valued at approximately $204,000. Finally, Walleye Capital LLC acquired a new position in American Well in the 3rd quarter valued at approximately $167,000. 56.05% of the stock is owned by institutional investors and hedge funds.

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.