Short Interest in American Well Co. (NYSE:AMWL) Increases By 7.9%

American Well Co. (NYSE:AMWL) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 383,100 shares, a growth of 7.9% from the January 15th total of 355,000 shares. Based on an average daily volume of 58,900 shares, the short-interest ratio is currently 6.5 days. Approximately 3.3% of the shares of the stock are short sold.

American Well Trading Down 2.8 %

Shares of NYSE:AMWL traded down $0.34 during midday trading on Tuesday, hitting $11.83. The company had a trading volume of 178,430 shares, compared to its average volume of 72,795. American Well has a 12 month low of $5.00 and a 12 month high of $26.40. The stock has a market cap of $181.16 million, a price-to-earnings ratio of -0.81 and a beta of 1.18. The firm has a fifty day simple moving average of $9.41 and a 200 day simple moving average of $9.19.

American Well (NYSE:AMWL) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($2.77) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Equities analysts forecast that American Well will post -13.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Compagnie Lombard Odier SCmA bought a new position in American Well during the fourth quarter worth about $45,000. OMERS ADMINISTRATION Corp bought a new position in American Well during the fourth quarter worth about $76,000. BNP Paribas Financial Markets bought a new position in American Well during the third quarter worth about $95,000. PDT Partners LLC bought a new position in American Well during the third quarter worth about $107,000. Finally, Corton Capital Inc. bought a new position in American Well during the fourth quarter worth about $134,000. 56.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on AMWL. Morgan Stanley dropped their price target on American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Truist Financial increased their price objective on American Well from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of American Well in a research report on Thursday, February 13th. Wells Fargo & Company upgraded American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a research report on Monday, January 13th. Finally, Stifel Nicolaus increased their price objective on American Well from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.90.

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.