American Well (NYSE:AMWL) Receives Hold Rating from Needham & Company LLC

American Well (NYSE:AMWL)‘s stock had its “hold” rating reiterated by Needham & Company LLC in a research note issued on Tuesday, Benzinga reports.

Separately, 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 report on Tuesday, August 6th.

American Well Trading Up 1.5 %

Shares of AMWL stock opened at $10.15 on Tuesday. The firm has a fifty day moving average price of $8.66 and a 200 day moving average price of $10.24. The company has a market cap of $150.45 million, a P/E ratio of -0.41 and a beta of 1.04. American Well has a 12 month low of $5.00 and a 12 month high of $31.60.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($3.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $62.79 million during the quarter, compared to the consensus estimate of $60.78 million. During the same period in the prior year, the company posted ($4.60) earnings per share. On average, equities analysts forecast that American Well will post -13.91 EPS for the current year.

Insider Buying and Selling at American Well

In related news, insider Kathy Johnson Weiler sold 7,266 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total transaction of $57,183.42. Following the transaction, the insider now owns 188,027 shares of the company’s stock, valued at $1,479,772.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Robert Shepardson sold 5,177 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $40,742.99. Following the transaction, the chief financial officer now directly owns 112,992 shares in the company, valued at $889,247.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kathy Johnson Weiler sold 7,266 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $57,183.42. Following the completion of the sale, the insider now owns 188,027 shares of the company’s stock, valued at approximately $1,479,772.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,137 shares of company stock worth $169,765. 12.80% of the stock is owned by company insiders.

Institutional Trading of American Well

A number of institutional investors have recently modified their holdings of the business. Oak Thistle LLC purchased a new stake in shares of American Well during the 1st quarter worth $46,000. Point72 DIFC Ltd grew its position 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 buying an additional 96,644 shares during the period. Aristides Capital LLC purchased a new position in American Well in the fourth quarter valued at about $224,000. Cubist Systematic Strategies LLC lifted its position in shares of American Well by 7,673.8% during the 2nd 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 period. Finally, Cowen AND Company LLC purchased a new stake in shares of American Well during the 2nd quarter worth approximately $81,000. 56.05% of the stock is currently owned by hedge funds and other institutional investors.

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.