American Well Co. (NYSE:AMWL) Short Interest Up 50.7% in April

American Well Co. (NYSE:AMWL) was the recipient of a large increase in short interest in 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 Down 2.1 %

AMWL stock traded down $0.01 during mid-day trading on Friday, hitting $0.53. 1,234,964 shares of the company were exchanged, compared to its average volume of 3,450,785. The company has a market capitalization of $152.72 million, a PE ratio of -0.22 and a beta of 0.99. The firm has a fifty day simple moving average of $0.84 and a 200 day simple moving average of $1.08. American Well has a twelve month low of $0.50 and a twelve month high of $2.74.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.02. American Well had a negative return on equity of 40.19% and a negative net margin of 260.63%. The firm had revenue of $70.68 million during the quarter, compared to analyst estimates of $70.16 million. During the same period in the previous year, the company earned ($0.22) earnings per share. American Well’s quarterly revenue was down 10.8% on a year-over-year basis. As a group, sell-side analysts anticipate that American Well will post -0.7 earnings per share for the current year.

Insider Activity at American Well

In other news, insider Kathy Johnson Weiler sold 283,192 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $1.09, for a total value of $308,679.28. Following the completion of the sale, the insider now owns 3,975,617 shares of the company’s stock, valued at $4,333,422.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Kathy Johnson Weiler sold 283,192 shares of the company’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 $308,679.28. Following the completion of the transaction, the insider now directly owns 3,975,617 shares in the company, valued at $4,333,422.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kurt Knight sold 283,079 shares of American Well 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 sale, the chief operating officer now directly owns 3,114,004 shares in the company, valued at approximately $3,394,264.36. The disclosure for this sale can be found here. In the last three months, insiders sold 1,169,038 shares of company stock worth $1,267,410. Corporate insiders own 12.94% of the company’s stock.

Institutional Trading of American Well

Several institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in shares of American Well by 32.1% in the 3rd quarter. Principal Financial Group Inc. now owns 34,397 shares of the company’s stock valued at $40,000 after buying an additional 8,354 shares during the period. Swiss National Bank lifted its holdings in shares of American Well by 2.3% in 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 during the last quarter. Cito Capital Group LLC boosted its position in American Well by 35.2% during the 3rd quarter. Cito Capital Group LLC now owns 52,104 shares of the company’s stock valued at $61,000 after purchasing an additional 13,552 shares during the period. Barclays PLC grew its stake in 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 buying an additional 14,021 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in American Well by 36.6% in the third quarter. Brown Advisory Inc. now owns 56,611 shares of the company’s stock worth $66,000 after buying an additional 15,170 shares during the period. Institutional investors own 56.05% of the company’s stock.

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 note on Monday, April 15th.

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.