American Well (NYSE:AMWL) Sets New 52-Week Low at $2.28

American Well Co. (NYSE:AMWL – Get Rating) reached a new 52-week low during trading on Friday . The company traded as low as $2.28 and last traded at $2.31, with a volume of 2013269 shares trading hands. The stock had previously closed at $2.50.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMWL. Piper Sandler downgraded American Well from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $5.00 to $3.50 in a report on Monday, February 27th. Cowen lowered their price target on American Well from $9.00 to $5.00 in a report on Monday, February 27th. Credit Suisse Group lowered their price target on American Well from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, February 23rd. Morgan Stanley lowered their price target on American Well from $6.00 to $5.00 and set an “overweight” rating for the company in a report on Monday, March 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of American Well in a report on Thursday, February 23rd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.53.

American Well Price Performance

The business’s 50-day simple moving average is $3.41 and its two-hundred day simple moving average is $3.58.

American Well (NYSE:AMWL – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.03. American Well had a negative net margin of 97.73% and a negative return on equity of 23.77%. The business had revenue of $79.20 million for the quarter, compared to analysts’ expectations of $78.05 million. During the same quarter last year, the company posted ($0.18) earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts predict that American Well Co. will post -0.77 earnings per share for the current year.

Insiders Place Their Bets

In other American Well news, CFO Robert Shepardson sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $2.36, for a total value of $47,200.00. Following the sale, the chief financial officer now owns 1,091,225 shares in the company, valued at $2,575,291. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other American Well news, COO Kurt Knight sold 25,680 shares of American Well stock in a transaction on Monday, March 6th. The shares were sold at an average price of $2.73, for a total transaction of $70,106.40. Following the completion of the sale, the chief operating officer now owns 1,381,401 shares of the company’s stock, valued at approximately $3,771,224.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Shepardson sold 20,000 shares of American Well stock in a transaction on Friday, March 10th. The shares were sold at an average price of $2.36, for a total transaction of $47,200.00. Following the sale, the chief financial officer now directly owns 1,091,225 shares of the company’s stock, valued at approximately $2,575,291. The disclosure for this sale can be found here. Insiders have sold 211,298 shares of company stock valued at $676,446 over the last quarter. Insiders own 13.91% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Point72 Middle East FZE bought a new position in shares of American Well during the 4th quarter worth about $33,000. Point72 Hong Kong Ltd boosted its holdings in American Well by 175.1% during the first quarter. Point72 Hong Kong Ltd now owns 8,087 shares of the company’s stock worth $34,000 after purchasing an additional 5,147 shares during the last quarter. MQS Management LLC acquired a new position in American Well during the fourth quarter worth $40,000. Mackenzie Financial Corp acquired a new position in American Well during the first quarter worth $43,000. Finally, Corient Capital Partners LLC acquired a new stake in American Well in the second quarter valued at $46,000. Institutional investors own 46.30% of the company’s stock.

American Well Company Profile

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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 to care. The company products offer urgent care; scheduled visits; acute behavioral health; telestroke; pediatrics; retail health, school health, and home settings.