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

American Well Co. (NYSE:AMWL) was the target of a large 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 trading volume, of 2,120,000 shares, the days-to-cover ratio is currently 4.4 days.

Insider Buying and Selling

In related news, EVP Vukasin Paunovich sold 251,323 shares of the company’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 $273,942.07. Following the completion of the sale, the executive vice president now directly owns 2,535,635 shares in the company, valued at approximately $2,763,842.15. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Vukasin Paunovich sold 251,323 shares of the company’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 $273,942.07. Following the completion of the sale, the executive vice president now directly owns 2,535,635 shares in the company, valued at approximately $2,763,842.15. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Kurt Knight sold 283,079 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $308,556.11. Following the completion of the transaction, the chief operating officer now owns 3,114,004 shares of the company’s stock, valued at $3,394,264.36. The disclosure for this sale can be found here. Insiders sold a total of 1,169,038 shares of company stock worth $1,267,410 in the last ninety days. 12.94% of the stock is owned by insiders.

Hedge Funds Weigh In On American Well

A number of hedge funds and other institutional investors have recently made changes to their positions in AMWL. Madison Park Capital Advisors LLC acquired a new position in shares of American Well in the fourth quarter worth approximately $34,000. Quadrature Capital Ltd acquired a new position in shares of American Well in the third quarter worth approximately $36,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of American Well in the third quarter worth approximately $36,000. Principal Financial Group Inc. lifted its stake in shares of American Well by 32.1% in the third quarter. Principal Financial Group Inc. now owns 34,397 shares of the company’s stock worth $40,000 after acquiring an additional 8,354 shares during the period. Finally, Oak Thistle LLC bought a new stake in American Well in the first quarter worth approximately $46,000. 56.05% of the stock is owned by institutional investors and hedge funds.

American Well Stock Up 12.6 %

American Well stock traded up $0.07 during trading hours 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 stock has a market cap of $172.02 million, a price-to-earnings ratio of -0.25 and a beta of 1.00. American Well has a one year low of $0.50 and a one year high of $2.74. The business’s 50 day simple moving average is $0.83 and its 200-day simple moving average is $1.08.

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

Analyst Upgrades and Downgrades

Separately, Morgan Stanley dropped 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.

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.