American Well (NYSE:AMWL) Given New $0.60 Price Target at UBS Group

American Well (NYSE:AMWL) had its target price trimmed by UBS Group from $1.50 to $0.60 in a report released on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

AMWL has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a hold rating on shares of American Well in a research report on Thursday, May 2nd. Morgan Stanley cut their price objective on American Well from $1.75 to $1.00 and set an equal weight rating on the stock in a research report on Monday, April 15th.

American Well Stock Down 7.1 %

NYSE:AMWL opened at $0.46 on Thursday. The stock’s fifty day moving average is $0.63 and its two-hundred day moving average is $1.01. American Well has a 52 week low of $0.45 and a 52 week high of $2.74. The stock has a market capitalization of $136.64 million, a price-to-earnings ratio of -0.37 and a beta of 1.12.

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

Hedge Funds Weigh In On American Well

Several large investors have recently bought and sold shares of AMWL. Principal Financial Group Inc. increased its stake in shares of American Well by 32.1% during 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 in the last quarter. Versor Investments LP purchased a new position in shares of American Well during the 3rd quarter worth approximately $294,000. Barclays PLC increased its stake in shares of American Well by 8.8% during the 3rd quarter. Barclays PLC now owns 173,359 shares of the company’s stock worth $203,000 after purchasing an additional 14,021 shares in the last quarter. Swiss National Bank increased its stake in shares of American Well by 2.3% during the 3rd quarter. Swiss National Bank now owns 463,200 shares of the company’s stock worth $542,000 after purchasing an additional 10,500 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in American Well in the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

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.