American Well Co. (NYSE:AMWL – Get Free Report) has received an average rating of “Hold” from the eight research firms that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $3.96.
Separately, Morgan Stanley cut American Well from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $5.00 to $2.50 in a report on Thursday.
American Well Trading Down 2.8 %
Shares of NYSE AMWL opened at $2.05 on Thursday. American Well has a 12-month low of $1.92 and a 12-month high of $5.43. The company has a market cap of $575.78 million, a PE ratio of -0.92 and a beta of 0.79. The stock has a 50 day simple moving average of $2.24 and a 200-day simple moving average of $2.56.
Insider Buying and Selling at American Well
In other American Well news, CEO Ido Schoenberg sold 250,610 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $2.04, for a total transaction of $511,244.40. Following the sale, the chief executive officer now directly owns 1,566,299 shares of the company’s stock, valued at approximately $3,195,249.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Phyllis Gotlib sold 14,478 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $2.25, for a total value of $32,575.50. Following the completion of the sale, the insider now directly owns 651,424 shares in the company, valued at $1,465,704. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ido Schoenberg sold 250,610 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $2.04, for a total transaction of $511,244.40. Following the completion of the sale, the chief executive officer now owns 1,566,299 shares of the company’s stock, valued at $3,195,249.96. The disclosure for this sale can be found here. Insiders have sold a total of 621,586 shares of company stock valued at $1,336,891 in the last three months. 12.94% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. LPL Financial LLC acquired a new position in shares of American Well during the second quarter valued at about $32,000. Point72 Middle East FZE acquired a new position in shares of American Well during the fourth quarter valued at about $33,000. Point72 Hong Kong Ltd raised its position in shares of American Well by 175.1% during the first quarter. Point72 Hong Kong Ltd now owns 8,087 shares of the company’s stock valued at $34,000 after buying an additional 5,147 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of American Well by 153.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 16,568 shares of the company’s stock valued at $35,000 after buying an additional 10,036 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new position in shares of American Well during the first quarter valued at about $35,000. Institutional investors and hedge funds own 48.79% of the company’s stock.
About American Well
American Well Corporation operates digital care delivery enablement platform in the United States and internationally. Its platform connects and enables providers, insurers, patients, and innovators to deliver access for quality care. The company's products offer urgent care; scheduled visits; acute behavioral health; telestroke; comprehensive behavioral health; ED triage; pediatrics; end-stage renal disease and dialysis; and retail health, school health, and home settings.
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