American Well (NYSE:AMWL) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of American Well (NYSE:AMWL) in a research note issued to investors on Thursday morning,Benzinga reports.

AMWL has been the subject of a number of other research reports. Wells Fargo & Company raised American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a research report on Monday, January 13th. Morgan Stanley lowered their price target on American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.88.

American Well Trading Down 5.1 %

AMWL opened at $11.73 on Thursday. The company has a market capitalization of $179.63 million, a price-to-earnings ratio of -0.80 and a beta of 1.18. American Well has a 12-month low of $5.00 and a 12-month high of $29.00. The business’s fifty day simple moving average is $9.21 and its 200-day simple moving average is $9.12.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($2.77) earnings per share (EPS) for the quarter, beating 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 EPS for the current year.

Hedge Funds Weigh In On American Well

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in American Well by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 147,925 shares of the company’s stock valued at $1,073,000 after acquiring an additional 922 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of American Well during the 4th quarter valued at approximately $45,000. BNP Paribas Financial Markets purchased a new position in shares of American Well during the 3rd quarter valued at approximately $95,000. PDT Partners LLC acquired a new position in shares of American Well in the 3rd quarter valued at $107,000. Finally, Walleye Capital LLC purchased a new stake in American Well during the third quarter worth $167,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

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.