American Well Co. (NYSE:AMWL) Short Interest Up 42.5% in June

American Well Co. (NYSE:AMWL) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 18,270,000 shares, a growth of 42.5% from the May 31st total of 12,820,000 shares. Based on an average daily volume of 2,430,000 shares, the days-to-cover ratio is currently 7.5 days.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research report on Thursday, May 2nd. Morgan Stanley dropped their target price on American Well from $1.75 to $1.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. Finally, UBS Group reduced 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Madison Park Capital Advisors LLC acquired a new position in American Well in the fourth quarter valued at approximately $34,000. Quadrature Capital Ltd acquired a new position in shares of American Well in the 3rd quarter valued at $36,000. Oak Thistle LLC purchased a new position in shares of American Well in the 1st quarter valued at $46,000. Cito Capital Group LLC raised 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 acquiring an additional 13,552 shares in the last quarter. Finally, RPO LLC acquired a new stake in American Well during the 4th quarter worth $85,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

American Well Stock Performance

Shares of American Well stock traded down $0.06 during trading hours on Monday, reaching $0.27. 6,165,655 shares of the company were exchanged, compared to its average volume of 2,243,258. The firm has a market cap of $79.21 million, a PE ratio of -0.24 and a beta of 1.04. The stock’s fifty day moving average is $0.46 and its 200 day moving average is $0.85. American Well has a 1 year low of $0.25 and a 1 year high of $2.47.

American Well shares are going 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 closing bell on Thursday, July 11th.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). American Well had a negative net margin of 137.32% and a negative return on equity of 46.76%. The company had revenue of $59.52 million during the quarter, compared to analysts’ expectations of $61.10 million. During the same quarter in the previous year, the business posted ($0.24) EPS. Research analysts expect that American Well will post -0.75 earnings per share for the current 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.