American Well (NYSE:AMWL) Stock Rating Reaffirmed by Needham & Company LLC

American Well (NYSE:AMWL)‘s stock had its “hold” rating reaffirmed by equities research analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

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

American Well Stock Performance

Shares of AMWL opened at $0.53 on Thursday. American Well has a one year low of $0.50 and a one year high of $2.74. The stock’s fifty day moving average is $0.80 and its 200-day moving average is $1.07. The firm has a market capitalization of $153.65 million, a price-to-earnings ratio of -0.22 and a beta of 1.12.

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

Insider Buying and Selling

In other news, CFO Robert Shepardson sold 319,214 shares of the 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 sale, the chief financial officer now directly owns 2,845,148 shares of the company’s stock, valued at $3,101,211.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kathy Johnson Weiler sold 283,192 shares of American Well stock in a transaction dated 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 in the company, valued at approximately $4,333,422.53. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert Shepardson sold 319,214 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was 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. In the last quarter, insiders have sold 1,158,186 shares of company stock valued at $1,255,582. 12.94% of the stock is owned by corporate insiders.

Institutional Trading of American Well

Institutional investors have recently added to or reduced their stakes in the business. Madison Park Capital Advisors LLC bought a new position in shares of American Well during the 4th quarter valued at $34,000. Quadrature Capital Ltd bought a new stake in shares of American Well during the 3rd quarter worth about $36,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of American Well during the 3rd quarter worth about $36,000. Principal Financial Group Inc. raised its stake in shares of American Well by 32.1% in the 3rd quarter. Principal Financial Group Inc. now owns 34,397 shares of the company’s stock valued at $40,000 after acquiring an additional 8,354 shares in the last quarter. Finally, Oak Thistle LLC acquired a new stake in American Well in the 1st quarter worth approximately $46,000. 56.05% of the stock is currently owned by institutional investors and hedge funds.

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.