American Well Co. (NYSE:AMWL) Given Average Recommendation of “Hold” by Brokerages

Shares of American Well Co. (NYSE:AMWL) have received an average rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $11.90.

A number of equities research analysts have issued reports on AMWL shares. Stifel Nicolaus increased their price objective on shares of American Well from $9.00 to $10.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a research note on Thursday, February 13th. Wells Fargo & Company upgraded shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a report on Monday, January 13th. Morgan Stanley dropped their price objective on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Finally, Truist Financial boosted their target price on American Well from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, February 14th.

American Well Stock Performance

AMWL opened at $11.83 on Friday. The stock has a market cap of $181.16 million, a price-to-earnings ratio of -0.81 and a beta of 1.18. The firm’s fifty day moving average is $9.41 and its 200 day moving average is $9.19. American Well has a fifty-two week low of $5.00 and a fifty-two week high of $26.40.

American Well (NYSE:AMWL) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($2.77) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.04) by $0.27. American Well had a negative return on equity of 52.49% and a negative net margin of 84.27%. On average, equities research analysts predict that American Well will post -13.38 earnings per share for the current year.

Hedge Funds Weigh In On American Well

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC lifted its holdings in shares of American Well by 7,673.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 184,083 shares of the company’s stock valued at $60,000 after acquiring an additional 181,715 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of American Well in the 3rd quarter worth approximately $95,000. HighTower Advisors LLC purchased a new position in shares of American Well in the 3rd quarter worth approximately $355,000. Compagnie Lombard Odier SCmA bought a new position in shares of American Well during the 4th quarter valued at approximately $45,000. Finally, PDT Partners LLC purchased a new stake in American Well during the 3rd quarter valued at $107,000. 56.05% of the stock is owned by hedge funds and other institutional investors.

American Well Company Profile

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.