American Well Co. (NYSE:AMWL) Short Interest Down 9.7% in August

American Well Co. (NYSE:AMWL) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 590,500 shares, a drop of 9.7% from the August 15th total of 653,900 shares. Currently, 5.1% of the company’s shares are sold short. Based on an average daily trading volume, of 164,800 shares, the short-interest ratio is presently 3.6 days.

Analysts Set New Price Targets

A number of research firms have issued reports on AMWL. Wells Fargo & Company decreased their target price on American Well from $40.00 to $15.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. UBS Group cut their price objective on American Well from $30.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, May 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of American Well in a research note on Thursday, August 1st.

Insider Buying and Selling at American Well

In other news, CFO Robert Shepardson sold 5,177 shares of American Well stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $40,742.99. Following the completion of the sale, the chief financial officer now owns 112,992 shares in the company, valued at approximately $889,247.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other American Well news, insider Kathy Johnson Weiler sold 7,266 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total value of $57,183.42. Following the sale, the insider now directly owns 188,027 shares in the company, valued at $1,479,772.49. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert Shepardson sold 5,177 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $40,742.99. Following the completion of the transaction, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at approximately $889,247.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,247 shares of company stock worth $187,067. Insiders own 12.80% of the company’s stock.

Hedge Funds Weigh In On American Well

Several hedge funds have recently made changes to their positions in the business. Oak Thistle LLC bought a new stake in shares of American Well in the first quarter worth $46,000. RPO LLC acquired a new stake in American Well in the 4th quarter valued at $85,000. Point72 DIFC Ltd raised its holdings in American Well by 1,418.5% during the second quarter. Point72 DIFC Ltd now owns 103,457 shares of the company’s stock worth $34,000 after acquiring an additional 96,644 shares in the last quarter. Aristides Capital LLC bought a new stake in shares of American Well during the 4th quarter worth approximately $224,000. Finally, Cubist Systematic Strategies LLC lifted its stake in American Well by 7,673.8% in the second quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock valued at $60,000 after acquiring an additional 181,715 shares during the last quarter. 56.05% of the stock is owned by institutional investors.

American Well Stock Performance

NYSE AMWL traded down $0.31 on Wednesday, reaching $9.84. The company had a trading volume of 82,823 shares, compared to its average volume of 122,154. The company’s fifty day moving average is $8.58 and its 200-day moving average is $10.46. American Well has a 1-year low of $5.00 and a 1-year high of $31.60. The firm has a market capitalization of $145.86 million, a price-to-earnings ratio of -0.40 and a beta of 1.04.

American Well (NYSE:AMWL) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($3.36) earnings per share for the quarter, topping the consensus estimate of ($3.94) by $0.58. American Well had a negative return on equity of 50.36% and a negative net margin of 120.44%. The company had revenue of $62.79 million during the quarter, compared to analysts’ expectations of $60.78 million. During the same period in the prior year, the firm earned ($4.60) earnings per share. On average, research analysts forecast that American Well will post -13.91 earnings per share for the current year.

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.