American Well Stock Set to Reverse Split on Thursday, July 11th (NYSE:AMWL)

American Well Co. (NYSE:AMWL)’s stock is scheduled to reverse split on the morning of Thursday, July 11th. The 1-20 reverse split was announced on Thursday, July 11th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, July 11th.

American Well Stock Performance

NYSE AMWL opened at $0.33 on Friday. American Well has a fifty-two week low of $0.32 and a fifty-two week high of $2.47. The firm has a market capitalization of $98.66 million, a P/E ratio of -0.27 and a beta of 1.07. The stock has a 50-day simple moving average of $0.46 and a two-hundred day simple moving average of $0.85.

American Well (NYSE:AMWL) last posted its earnings results 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 return on equity of 46.76% and a negative net margin of 137.32%. The company had revenue of $59.52 million for the quarter, compared to analyst estimates of $61.10 million. During the same period last year, the business earned ($0.24) earnings per share. As a group, analysts forecast that American Well will post -0.75 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on AMWL shares. UBS Group dropped their price target on shares of American Well from $1.50 to $0.60 and set a “neutral” rating on the stock in a research report on Thursday, May 23rd. Morgan Stanley dropped their target price on American Well from $1.75 to $1.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a report on Thursday, May 2nd.

Hedge Funds Weigh In On American Well

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Madison Park Capital Advisors LLC acquired a new stake in shares of American Well in the fourth quarter worth approximately $34,000. Quadrature Capital Ltd purchased a new position in American Well in the 3rd quarter valued at $36,000. Cito Capital Group LLC boosted its stake in American Well by 35.2% during the 3rd quarter. Cito Capital Group LLC now owns 52,104 shares of the company’s stock worth $61,000 after purchasing an additional 13,552 shares during the last quarter. Oak Thistle LLC acquired a new stake in American Well during the 1st quarter worth $46,000. Finally, RPO LLC purchased a new stake in shares of American Well during the fourth quarter worth $85,000. 56.05% of the stock is 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.