Short Interest in American Well Co. (NYSE:AMWL) Declines By 7.7%

by · The Markets Daily

American Well Co. (NYSE:AMWL – Get Free Report) saw a significant drop in short interest in October. As of October 15th, there was short interest totalling 445,500 shares, a drop of 7.7% from the September 30th total of 482,600 shares. Based on an average daily volume of 88,100 shares, the short-interest ratio is currently 5.1 days. Currently, 3.8% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of American Well in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of American Well from $40.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th.

Check Out Our Latest Stock Report on AMWL

Insider Activity at American Well

In other news, insider Kathy Johnson Weiler sold 7,266 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total value of $57,183.42. Following the completion of the transaction, the insider now directly owns 188,027 shares of the company’s stock, valued at $1,479,772.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Kathy Johnson Weiler sold 7,266 shares of the firm’s 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 $57,183.42. Following the completion of the sale, the insider now owns 188,027 shares in the company, valued at $1,479,772.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Shepardson sold 5,177 shares of American Well stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 directly owns 112,992 shares in the company, valued at $889,247.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,640 shares of company stock valued at $173,939 over the last ninety days. Corporate insiders own 12.80% of the company’s stock.

Institutional Trading of American Well

A number of hedge funds have recently bought and sold shares of the company. 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 valued at $34,000 after acquiring an additional 96,644 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings 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 purchasing an additional 181,715 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in American Well by 2,690.2% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 419,841 shares of the company’s stock worth $136,000 after purchasing an additional 404,794 shares during the period. AQR Capital Management LLC lifted its stake in American Well by 28.1% in the second quarter. AQR Capital Management LLC now owns 1,895,730 shares of the company’s stock worth $616,000 after purchasing an additional 416,387 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in American Well by 63.9% during the second quarter. Renaissance Technologies LLC now owns 6,833,500 shares of the company’s stock valued at $2,220,000 after buying an additional 2,665,300 shares during the period. Institutional investors own 56.05% of the company’s stock.

American Well Trading Down 5.1 %

Shares of NYSE:AMWL traded down $0.49 during trading on Thursday, reaching $9.16. The company had a trading volume of 57,318 shares, compared to its average volume of 111,287. American Well has a 12 month low of $5.00 and a 12 month high of $31.60. The stock has a market capitalization of $137.32 million, a P/E ratio of -0.43 and a beta of 1.05. The company has a fifty day moving average of $9.34 and a two-hundred day moving average of $8.97.

American Well (NYSE:AMWL – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($2.87) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.32) by $0.45. American Well had a negative return on equity of 50.36% and a negative net margin of 120.44%. The business had revenue of $61.05 million for the quarter, compared to the consensus estimate of $62.06 million. As a group, equities research analysts predict that American Well will post -13.46 earnings per share for the current year.

About American Well

(Get Free Report)

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.

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