American Well Co. (NYSE:AMWL) Sees Significant Decline in Short Interest

American Well Co. (NYSE:AMWL) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 422,900 shares, a decrease of 53.5% from the June 30th total of 909,200 shares. Based on an average trading volume of 157,100 shares, the short-interest ratio is currently 2.7 days. Currently, 3.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMWL. Morgan Stanley lowered their price target on shares of American Well from $35.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. UBS Group lowered their price target on shares of American Well from $30.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, May 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of American Well in a research report on Thursday, May 2nd.

American Well Trading Up 5.9 %

AMWL stock traded up $0.49 during trading on Friday, hitting $8.84. The company had a trading volume of 83,349 shares, compared to its average volume of 286,882. The firm has a market capitalization of $131.01 million, a price-to-earnings ratio of -0.36 and a beta of 1.03. The business has a 50 day moving average of $7.90 and a 200 day moving average of $14.04. American Well has a fifty-two week low of $5.00 and a fifty-two week high of $49.40.

American Well (NYSE:AMWL) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($5.00) earnings per share for the quarter, missing the consensus estimate of ($3.60) by ($1.40). The company had revenue of $59.52 million during the quarter, compared to analyst estimates of $61.10 million. American Well had a negative return on equity of 46.76% and a negative net margin of 137.32%. During the same period in the previous year, the company earned ($4.80) EPS. As a group, equities analysts predict that American Well will post -15.9 EPS for the current year.

Institutional Investors Weigh In On American Well

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its holdings in American Well by 58.3% in the 4th quarter. SG Americas Securities LLC now owns 107,696 shares of the company’s stock valued at $160,000 after acquiring an additional 39,655 shares during the last quarter. Sapient Capital LLC acquired a new stake in American Well in the 4th quarter valued at about $247,000. Madison Park Capital Advisors LLC acquired a new stake in American Well in the 4th quarter valued at about $34,000. Rock Point Advisors LLC lifted its holdings in American Well by 9.5% in the 4th quarter. Rock Point Advisors LLC now owns 2,062,582 shares of the company’s stock valued at $3,073,000 after acquiring an additional 179,061 shares during the last quarter. Finally, RPO LLC acquired a new stake in American Well in the 4th quarter valued at about $85,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

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.