American Well Co. (NYSE:AMWL – Get Rating)'s stock price was down 9.2% on Wednesday after Piper Sandler lowered their price target on the stock from $6.00 to $5.00. The company traded as low as $3.88 and last traded at $3.93. Approximately 18,333 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 1,102,986 shares. The stock had previously closed at $4.33.
Insider Activity
In other news, CEO Ido Schoenberg sold 136,472 shares of the company's stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $4.61, for a total transaction of $629,135.92. Following the completion of the sale, the chief executive officer now owns 2,373,108 shares of the company's stock, valued at approximately $10,940,027.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Ido Schoenberg sold 136,472 shares of the stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $4.61, for a total value of $629,135.92. Following the completion of the sale, the chief executive officer now directly owns 2,373,108 shares of the company's stock, valued at approximately $10,940,027.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bradford Gay sold 19,450 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $4.96, for a total transaction of $96,472.00. Following the completion of the sale, the vice president now directly owns 839,737 shares of the company's stock, valued at $4,165,095.52. The disclosure for this sale can be found here. Insiders sold 486,100 shares of company stock valued at $2,163,969 in the last quarter. 13.91% of the stock is currently owned by insiders.
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Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caledonia Private Investments Pty Ltd lifted its position in American Well by 12.8% in the second quarter. Caledonia Private Investments Pty Ltd now owns 18,070,245 shares of the company's stock worth $78,063,000 after buying an additional 2,053,997 shares during the last quarter. Vanguard Group Inc. lifted its position in American Well by 0.9% in the first quarter. Vanguard Group Inc. now owns 17,000,809 shares of the company's stock worth $71,574,000 after buying an additional 148,001 shares during the last quarter. BlackRock Inc. lifted its position in American Well by 8.7% in the first quarter. BlackRock Inc. now owns 14,394,991 shares of the company's stock worth $60,602,000 after buying an additional 1,153,940 shares during the last quarter. State Street Corp lifted its position in American Well by 19.6% in the second quarter. State Street Corp now owns 5,482,057 shares of the company's stock worth $23,682,000 after buying an additional 899,260 shares during the last quarter. Finally, Eagle Health Investments LP increased its stake in American Well by 69.5% in the first quarter. Eagle Health Investments LP now owns 3,811,008 shares of the company's stock worth $16,044,000 after purchasing an additional 1,563,100 shares during the period. 46.62% of the stock is currently owned by institutional investors.
American Well Stock Down 9.2 %
The firm has a market cap of $1.08 billion, a PE ratio of -4.42 and a beta of -0.06. The business has a 50 day simple moving average of $4.60 and a two-hundred day simple moving average of $4.03.
American Well (NYSE:AMWL – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.25) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.01. The company had revenue of $64.52 million for the quarter, compared to the consensus estimate of $64.13 million. American Well had a negative return on equity of 19.36% and a negative net margin of 90.47%. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.15) earnings per share. Equities analysts forecast that American Well Co. will post -0.97 earnings per share for the current year.
American Well Company Profile
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American Well Corporation operates as a telehealth software company that enables digital delivery of care for healthcare. The company products offer urgent care; scheduled visits; acute behavioral health; telestroke; pediatrics; retail health, school health, and home settings. Its application offers urgent care; pediatrics; therapy; menopause nutrition; end-stage renal disease and dialysis; dermatology care; behavioral health therapy; and musculoskeletal care.
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