Short Interest in American Well Co. (NYSE:AMWL) Increases By 50.7%

American Well Co. (NYSE:AMWL) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 9,300,000 shares, an increase of 50.7% from the March 31st total of 6,170,000 shares. Based on an average daily volume of 2,120,000 shares, the short-interest ratio is presently 4.4 days.

American Well Trading Up 12.6 %

AMWL stock traded up $0.07 during midday trading on Monday, hitting $0.59. The stock had a trading volume of 4,116,941 shares, compared to its average volume of 1,968,024. The firm has a market capitalization of $172.02 million, a price-to-earnings ratio of -0.25 and a beta of 1.00. American Well has a 52 week low of $0.50 and a 52 week high of $2.74. The stock has a 50-day simple moving average of $0.83 and a 200 day simple moving average of $1.08.

American Well (NYSE:AMWL) last issued its earnings results on Wednesday, February 14th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.02. The firm had revenue of $70.68 million during the quarter, compared to analysts’ expectations of $70.16 million. American Well had a negative return on equity of 40.19% and a negative net margin of 260.63%. American Well’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period last year, the business earned ($0.22) earnings per share. On average, equities analysts forecast that American Well will post -0.7 EPS for the current year.

Analyst Ratings Changes

Separately, Morgan Stanley reduced their target price on American Well from $1.75 to $1.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th.

Insider Buying and Selling at American Well

In other American Well news, CFO Robert Shepardson sold 319,214 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total transaction of $347,943.26. Following the transaction, the chief financial officer now owns 2,845,148 shares in the company, valued at $3,101,211.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Robert Shepardson sold 319,214 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $347,943.26. Following the sale, the chief financial officer now owns 2,845,148 shares in the company, valued at $3,101,211.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Kurt Knight sold 283,079 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total transaction of $308,556.11. Following the completion of the sale, the chief operating officer now owns 3,114,004 shares in the company, valued at approximately $3,394,264.36. The disclosure for this sale can be found here. Insiders have sold a total of 1,169,038 shares of company stock worth $1,267,410 over the last 90 days. Insiders own 12.94% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in shares of American Well by 32.1% during the third quarter. Principal Financial Group Inc. now owns 34,397 shares of the company’s stock valued at $40,000 after acquiring an additional 8,354 shares during the period. Swiss National Bank raised its holdings in shares of American Well by 2.3% in the third quarter. Swiss National Bank now owns 463,200 shares of the company’s stock valued at $542,000 after buying an additional 10,500 shares during the last quarter. Cito Capital Group LLC raised its holdings in shares of American Well by 35.2% in the third quarter. Cito Capital Group LLC now owns 52,104 shares of the company’s stock valued at $61,000 after buying an additional 13,552 shares during the last quarter. Barclays PLC raised its holdings in shares of American Well by 8.8% in the third quarter. Barclays PLC now owns 173,359 shares of the company’s stock valued at $203,000 after buying an additional 14,021 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of American Well by 36.6% in the third quarter. Brown Advisory Inc. now owns 56,611 shares of the company’s stock valued at $66,000 after buying an additional 15,170 shares during the last quarter. 56.05% of the stock is owned by institutional investors.

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.