American Well Co. (NYSE:AMWL – Get Free Report) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 8,600,000 shares, a decline of 5.5% from the October 15th total of 9,100,000 shares. Based on an average daily trading volume, of 1,690,000 shares, the short-interest ratio is presently 5.1 days.
Insiders Place Their Bets
In other American Well news, CEO Ido Schoenberg sold 135,236 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $1.20, for a total value of $162,283.20. Following the completion of the sale, the chief executive officer now owns 1,285,011 shares of the company’s stock, valued at $1,542,013.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Ido Schoenberg sold 135,236 shares of American Well stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $1.20, for a total value of $162,283.20. Following the transaction, the chief executive officer now directly owns 1,285,011 shares in the company, valued at $1,542,013.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Kurt Knight sold 25,866 shares of American Well stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $1.44, for a total value of $37,247.04. Following the completion of the transaction, the chief operating officer now owns 1,276,157 shares in the company, valued at $1,837,666.08. The disclosure for this sale can be found here. Insiders sold 253,341 shares of company stock valued at $325,230 over the last quarter. Insiders own 12.94% of the company’s stock.
Institutional Investors Weigh In On American Well
Several large investors have recently modified their holdings of AMWL. FMR LLC grew its stake in shares of American Well by 383.8% in the 3rd quarter. FMR LLC now owns 21,789 shares of the company’s stock valued at $25,000 after purchasing an additional 17,285 shares during the period. Comerica Bank bought a new stake in shares of American Well in the 2nd quarter valued at approximately $29,000. LPL Financial LLC bought a new stake in shares of American Well in the 2nd quarter valued at approximately $32,000. Point72 Middle East FZE bought a new stake in shares of American Well in the 4th quarter valued at approximately $33,000. Finally, Point72 Hong Kong Ltd boosted its holdings in shares of American Well by 175.1% in the 1st quarter. Point72 Hong Kong Ltd now owns 8,087 shares of the company’s stock worth $34,000 after acquiring an additional 5,147 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors.
American Well Trading Down 1.8 %
Analyst Upgrades and Downgrades
Separately, Morgan Stanley lowered their price target on American Well from $2.50 to $1.75 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.71.
American Well Company Profile
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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