American Well Co. (NYSE:AMWL) Sees Large Growth in Short Interest

American Well Co. (NYSE:AMWL) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 9,300,000 shares, a growth of 50.7% from the March 31st total of 6,170,000 shares. Based on an average daily trading volume, of 2,120,000 shares, the short-interest ratio is currently 4.4 days.

Analyst Ratings Changes

Separately, Morgan Stanley cut their price target on shares of American Well from $1.75 to $1.00 and set an “equal weight” rating on the stock in a report on Monday, April 15th.

Insider Buying and Selling

In other news, CFO Robert Shepardson sold 319,214 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 2,845,148 shares of the company’s stock, valued at approximately $3,101,211.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other American Well news, insider Kathy Johnson Weiler sold 283,192 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 transaction of $308,679.28. Following the completion of the sale, the insider now directly owns 3,975,617 shares of the company’s stock, valued at approximately $4,333,422.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Shepardson sold 319,214 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $347,943.26. Following the completion of the transaction, the chief financial officer now owns 2,845,148 shares in the company, valued at approximately $3,101,211.32. The disclosure for this sale can be found here. Insiders sold 1,169,038 shares of company stock valued at $1,267,410 over the last quarter. Insiders own 12.94% of the company’s stock.

Hedge Funds Weigh In On American Well

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP lifted its position in shares of American Well by 75.5% during the third quarter. GSA Capital Partners LLP now owns 716,830 shares of the company’s stock worth $839,000 after acquiring an additional 308,418 shares in the last quarter. Versor Investments LP purchased a new stake in American Well during the 3rd quarter worth about $294,000. Sapient Capital LLC bought a new position in American Well in the 4th quarter worth about $247,000. Quadrature Capital Ltd purchased a new position in American Well during the 3rd quarter valued at about $36,000. Finally, Barclays PLC increased its position in shares of American Well by 8.8% during the third quarter. Barclays PLC now owns 173,359 shares of the company’s stock valued at $203,000 after buying an additional 14,021 shares during the period. Institutional investors own 56.05% of the company’s stock.

American Well Stock Down 2.1 %

AMWL stock traded down $0.01 during midday trading on Friday, hitting $0.53. The company’s stock had a trading volume of 1,234,964 shares, compared to its average volume of 3,450,785. The stock has a market cap of $152.72 million, a price-to-earnings ratio of -0.22 and a beta of 0.99. The stock’s 50-day moving average price is $0.84 and its 200 day moving average price is $1.08. American Well has a 1 year low of $0.50 and a 1 year high of $2.74.

American Well (NYSE:AMWL) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. The company had revenue of $70.68 million for the quarter, compared to the consensus estimate of $70.16 million. American Well had a negative net margin of 260.63% and a negative return on equity of 40.19%. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.22) EPS. As a group, equities analysts forecast that American Well will post -0.7 earnings per share for the current fiscal year.

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.