American Well (NYSE:AMWL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of American Well (NYSE:AMWL) from a sell rating to a hold rating in a research note released on Saturday.

Several other equities research analysts have also recently issued reports on AMWL. Weiss Ratings reiterated a “sell (e+)” rating on shares of American Well in a research note on Wednesday, January 21st. Morgan Stanley dropped their price objective on American Well from $10.50 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, December 18th. Stifel Nicolaus reduced their target price on American Well from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Friday. Finally, Wells Fargo & Company dropped their price target on American Well from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.42.

American Well Price Performance

Shares of NYSE AMWL opened at $5.38 on Friday. The firm has a market cap of $87.99 million, a price-to-earnings ratio of -0.90 and a beta of 1.36. The stock’s fifty day moving average price is $4.70 and its two-hundred day moving average price is $5.42. American Well has a one year low of $3.71 and a one year high of $12.95.

American Well (NYSE:AMWL) last announced its earnings results on Thursday, February 12th. The company reported ($1.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.59) by $0.07. American Well had a negative net margin of 38.38% and a negative return on equity of 35.33%. The company had revenue of $55.31 million during the quarter, compared to analysts’ expectations of $52.71 million. On average, equities analysts anticipate that American Well will post -9.34 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Dmitry Zamansky sold 6,243 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $4.85, for a total value of $30,278.55. Following the completion of the transaction, the insider owned 191,468 shares of the company’s stock, valued at $928,619.80. This represents a 3.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 14,633 shares of company stock worth $67,972. Insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMWL. Headlands Technologies LLC acquired a new stake in shares of American Well during the 2nd quarter valued at $39,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of American Well during the third quarter valued at about $62,000. Prelude Capital Management LLC bought a new stake in shares of American Well during the third quarter worth about $86,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of American Well in the second quarter valued at approximately $89,000. Finally, Engineers Gate Manager LP bought a new position in American Well in the 2nd quarter valued at approximately $101,000. 56.05% of the stock is currently owned by institutional investors and hedge funds.

About American Well

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.