Insider Selling: American Well Co. (NYSE:AMWL) Director Sells $17,302.82 in Stock

American Well Co. (NYSE:AMWL) Director Deborah C. Jackson sold 42,202 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $0.41, for a total value of $17,302.82. Following the sale, the director now owns 636,683 shares of the company’s stock, valued at approximately $261,040.03. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

American Well Stock Down 11.3 %

NYSE:AMWL opened at $0.33 on Friday. The business’s 50 day moving average is $0.46 and its two-hundred day moving average is $0.85. American Well Co. has a 52 week low of $0.32 and a 52 week high of $2.47. The company has a market cap of $98.66 million, a PE ratio of -0.27 and a beta of 1.07.

American Well shares are going to reverse split before the market opens on Thursday, July 11th. The 1-20 reverse split was announced on Thursday, July 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, July 11th.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The company had revenue of $59.52 million during the quarter, compared to the consensus estimate of $61.10 million. American Well had a negative return on equity of 46.76% and a negative net margin of 137.32%. During the same period last year, the business posted ($0.24) EPS. As a group, sell-side analysts expect that American Well Co. will post -0.75 EPS for the current fiscal year.

Institutional Trading of American Well

Several hedge funds have recently made changes to their positions in AMWL. Madison Park Capital Advisors LLC bought a new stake in shares of American Well in the 4th quarter worth approximately $34,000. Quadrature Capital Ltd bought a new stake in shares of American Well in the 3rd quarter worth approximately $36,000. Oak Thistle LLC bought a new stake in American Well during the 1st quarter valued at $46,000. Cito Capital Group LLC raised its stake 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 acquiring an additional 13,552 shares in the last quarter. Finally, RPO LLC acquired a new position in American Well during the 4th quarter worth $85,000. Institutional investors own 56.05% of the company’s stock.

Analysts Set New Price Targets

AMWL has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a report on Thursday, May 2nd. Finally, UBS Group reduced their target price on American Well from $1.50 to $0.60 and set a “neutral” rating on the stock in a report on Thursday, May 23rd.

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.