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

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

Analyst Ratings Changes

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

American Well Trading Down 2.8 %

NYSE:AMWL traded down $0.34 on Tuesday, reaching $11.83. 178,430 shares of the stock traded hands, compared to its average volume of 72,795. The company has a market capitalization of $181.16 million, a price-to-earnings ratio of -0.81 and a beta of 1.18. American Well has a 12 month low of $5.00 and a 12 month high of $26.40. The company’s fifty day simple moving average is $9.36 and its 200 day simple moving average is $9.19.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($2.77) earnings per share for the quarter, beating the consensus estimate of ($3.04) by $0.27. American Well had a negative net margin of 84.27% and a negative return on equity of 52.49%. Equities analysts anticipate that American Well will post -13.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Senvest Management LLC increased its holdings in American Well by 3.9% in the 4th quarter. Senvest Management LLC now owns 1,300,611 shares of the company’s stock worth $9,429,000 after buying an additional 48,800 shares in the last quarter. 4D Advisors LLC purchased a new stake in shares of American Well during the 4th quarter valued at about $1,088,000. Geode Capital Management LLC grew its stake in shares of American Well by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 147,925 shares of the company’s stock worth $1,073,000 after acquiring an additional 922 shares during the period. Bridgeway Capital Management LLC raised its holdings in shares of American Well by 39.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 96,741 shares of the company’s stock valued at $701,000 after purchasing an additional 27,343 shares during the last quarter. Finally, Takeda Pharmaceutical Co. Ltd. bought a new position in American Well during the fourth quarter valued at approximately $564,000. Hedge funds and other institutional investors 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.