American Well (NYSE:AMWL) Price Target Cut to $0.60

American Well (NYSE:AMWL) had its price objective reduced by UBS Group from $1.50 to $0.60 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 32.45% from the company’s current price.

AMWL has been the topic of several other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a research report on Thursday, May 2nd. Morgan Stanley decreased their price target on American Well from $1.75 to $1.00 and set an “equal weight” rating for the company in a research note on Monday, April 15th.

American Well Stock Performance

NYSE:AMWL traded down $0.04 during trading hours on Thursday, hitting $0.45. 510,151 shares of the company’s stock traded hands, compared to its average volume of 1,967,309. The firm has a market cap of $134.30 million, a P/E ratio of -0.38 and a beta of 1.12. American Well has a twelve month low of $0.45 and a twelve month high of $2.74. The stock’s fifty day moving average price is $0.64 and its two-hundred day moving average price is $1.01.

American Well (NYSE:AMWL) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07). American Well had a negative net margin of 137.32% and a negative return on equity of 46.76%. The business had revenue of $59.52 million for the quarter, compared to analyst estimates of $61.10 million. During the same period in the previous year, the firm posted ($0.24) earnings per share. On average, equities research analysts predict that American Well will post -0.75 earnings per share for the current year.

Insider Transactions at American Well

In other news, 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 directly owns 2,845,148 shares of the company’s stock, valued at approximately $3,101,211.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Robert Shepardson sold 319,214 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total transaction 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 approximately $3,101,211.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vukasin Paunovich sold 251,323 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $273,942.07. Following the sale, the executive vice president now directly owns 2,535,635 shares of the company’s stock, valued at $2,763,842.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,168,915 shares of company stock valued at $1,261,161. Corporate insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position 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 worth $40,000 after purchasing an additional 8,354 shares during the last quarter. Swiss National Bank lifted its holdings in American Well by 2.3% during the third quarter. Swiss National Bank now owns 463,200 shares of the company’s stock worth $542,000 after acquiring an additional 10,500 shares in the last quarter. Cito Capital Group LLC lifted its holdings in American Well by 35.2% during the third quarter. Cito Capital Group LLC now owns 52,104 shares of the company’s stock worth $61,000 after acquiring an additional 13,552 shares in the last quarter. Barclays PLC lifted its holdings in American Well by 8.8% during the third quarter. Barclays PLC now owns 173,359 shares of the company’s stock worth $203,000 after acquiring an additional 14,021 shares in the last quarter. Finally, Madison Park Capital Advisors LLC bought a new position in American Well during the fourth quarter worth about $34,000. 56.05% of the stock is currently owned by institutional investors.

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.