American Well (NYSE:AMWL) Shares to Reverse Split on Thursday, July 11th

Shares of American Well Co. (NYSE:AMWL) are set to reverse split on the morning of 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 Trading Up 18.0 %

Shares of AMWL opened at $0.30 on Wednesday. The firm’s 50-day moving average is $0.44 and its two-hundred day moving average is $0.83. American Well has a twelve month low of $0.25 and a twelve month high of $2.47. The firm has a market capitalization of $87.46 million, a P/E ratio of -0.24 and a beta of 1.04.

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). American Well had a negative net margin of 137.32% and a negative return on equity of 46.76%. The business had revenue of $59.52 million during the quarter, compared to analysts’ expectations of $61.10 million. During the same period last year, the company earned ($0.24) EPS. Analysts predict that American Well will post -0.75 EPS for the current year.

Analyst Ratings Changes

AMWL has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of American Well from $1.75 to $1.00 and set an “equal weight” rating on the stock in a research note on Monday, April 15th. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research note on Thursday, May 2nd. Finally, UBS Group reduced their price objective on shares of American Well from $1.50 to $0.60 and set a “neutral” rating on the stock in a research note on Thursday, May 23rd.

Hedge Funds Weigh In On American Well

A number of large investors have recently bought and sold shares of AMWL. Senvest Management LLC grew its holdings in American Well by 2.2% during the 4th quarter. Senvest Management LLC now owns 23,529,964 shares of the company’s stock valued at $35,060,000 after purchasing an additional 507,340 shares in the last quarter. Vanguard Group Inc. grew its holdings in American Well by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 13,398,096 shares of the company’s stock valued at $10,862,000 after purchasing an additional 190,922 shares in the last quarter. Acadian Asset Management LLC grew its holdings in American Well by 193.0% during the 1st quarter. Acadian Asset Management LLC now owns 2,083,805 shares of the company’s stock valued at $1,687,000 after purchasing an additional 1,372,582 shares in the last quarter. Rock Point Advisors LLC grew its holdings in American Well by 9.5% during the 4th quarter. Rock Point Advisors LLC now owns 2,062,582 shares of the company’s stock valued at $3,073,000 after purchasing an additional 179,061 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in American Well during the 1st quarter valued at $1,284,000. Hedge funds and other institutional investors own 56.05% of the company’s stock.

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.