American Well (NYSE:AMWL) Stock Price Down 2%

American Well Co. (NYSE:AMWL) traded down 2% on Friday . The stock traded as low as $7.61 and last traded at $8.00. 15,958 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 119,976 shares. The stock had previously closed at $8.16.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AMWL shares. Morgan Stanley dropped their price objective on shares of American Well from $35.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th. UBS Group lowered their target price on American Well from $30.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, May 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of American Well in a research report on Thursday, May 2nd.

American Well Trading Down 7.8 %

The company has a market capitalization of $111.45 million, a P/E ratio of -0.31 and a beta of 1.03. The business’s 50-day simple moving average is $8.23 and its 200 day simple moving average is $15.44.

American Well (NYSE:AMWL) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($5.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.60) by ($1.40). The business had revenue of $59.52 million during the quarter, compared to analyst estimates of $61.10 million. American Well had a negative net margin of 137.32% and a negative return on equity of 46.76%. During the same period in the previous year, the company posted ($4.80) earnings per share. As a group, sell-side analysts predict that American Well Co. will post -15 EPS for the current fiscal year.

Hedge Funds Weigh In On American Well

A number of hedge funds and other institutional investors have recently modified their holdings of AMWL. Madison Park Capital Advisors LLC purchased a new position in shares of American Well in the fourth quarter worth approximately $34,000. SG Americas Securities LLC raised its stake in American Well by 58.3% during the 4th quarter. SG Americas Securities LLC now owns 107,696 shares of the company’s stock valued at $160,000 after purchasing an additional 39,655 shares during the period. Oak Thistle LLC purchased a new stake in shares of American Well in the first quarter valued at $46,000. RPO LLC acquired a new stake in shares of American Well in the fourth quarter worth $85,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of American Well by 520.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 73,945 shares of the company’s stock valued at $110,000 after buying an additional 62,019 shares in the last quarter. Institutional investors and hedge funds own 56.05% of the company’s stock.

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.