The Vanguard Group, Inc. has recently announced that it has increased stake in American Well Corporation (NYSE:AMWL) by 13.66%. After grabbing 21.24 million shares, the institutional investor is now in possession of 2.55 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 8.76% having worth around $59.25 million. Moreover, Senvest Management LLC increased its share by 4.43 million to have a control over 16.3 million shares. And BlackRock Fund Advisors raised its holdings to 1.19 million shares by acquiring 16.01 million shares or 6.60% of the stake.
American Well Corporation (AMWL) concluded trading on 03/16/23 at a closing price of $2.50, with 1.85 million shares of worth about $4.64 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -39.02% during that period and on Thursday the price saw a gain of about 1.63%. Currently the company’s common shares owned by public are about 264.83M shares, out of which, 187.68M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 15 analysts are covering the AMWL stock and their offered price forecasts bring an average price target of $3.88. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $5.00 and could fall to a lowest price of $3.00. The stock’s current price level is 37.5% above of average price target set by the analysts, while a rise to estimated low would result in gain of 16.67% for the stock. However, touching the estimated high of $5.00 would mean a gain of 50.0% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 116 times over the past 12 months. They bought 2,410,348 shares in 11 of the transactions. In 105 selling transactions, insiders dumped 2,817,406 shares.
Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in American Well Corporation Vanguard Total Stock Market Index is currently holding 6.92 million shares of worth totaling $19.3 million. The company recently came buying 0.0 shares which brought its stake up to 2.85% of the company’s outstanding shares. Vanguard Small Cap Index Fund bought 30954.0 shares, after which its hold over company’s outstanding shares expand to 2.33%, leaving 5.65 million shares with the mutual fund that have a worth of about $15.78 million. iShares Russell 2000 ETF, after selling 5.01 million shares, have now control over 2.07% of the stake in the company. It holds 15858.0 shares of worth $13.98 million.
American Well Corporation (NYSE: AMWL) started trading at $2.42, below -$0.04 from concluding price of the previous day. However, the stock later moved at a day high price of 2.5300, or with a gain of 1.63%. Stock saw a price change of 0.00% in past 5 days and over the past one month there was a price change of -32.80%. Year-to-date (YTD), AMWL shares are showing a performance of -11.66% which decreased to -24.01% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.29 but also hit the highest price of $5.43 during that period. The average intraday trading volume for American Well Corporation shares is 1.49 million. The stock is currently trading -15.24% below its 20-day simple moving average (SMA20), while that difference is down -26.80% for SMA50 and it goes to -35.55% lower than SMA200.
The Vanguard Group, Inc. acquired 21.24 million shares of American Well Corporation having value of about $59.25 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 2.55 million shares in the company valued at close to $6378912.5, or have control over 13.66% stake in the company. American Well Corporation (NYSE: AMWL) currently have 264.83M outstanding shares and institutions hold larger chunk of about 54.40% of that. Holding of mutual funds in the company is about 30.94% while other institutional holders and individual stake holders have control over 7.37% and 23.13% of the stake respectively.
The stock has a current market capitalization of $738.30M. It has posted earnings per share of -$1.00 in the same period. It has Quick Ratio of 5.40 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AMWL, volatility over the week remained 6.27% while standing at 5.90% over the month.
Analysts are in expectations that American Well Corporation (AMWL) stock would likely to be making an EPS of -$0.25 in the current quarter, while forecast for next quarter EPS is -$0.2 and it is -$0.72 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.29 which is -$0.21 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.18 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -42.10% while it is estimated to increase by 19.80% in next year.
Analysts at 15 brokerage firms have issued recommendations for the American Well Corporation (AMWL)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.60. Out of those 15 Wall Street analysts, 4 recommended a “Buy” rating, while 11 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on February 27, 2023 offering a Neutral rating for the stock and assigned a target price range of between $5 and $3.50 to it. Coverage by BofA Securities stated American Well Corporation (AMWL) stock as a Buy in their note to investors on January 04, 2023, suggesting a price target of $4.20 for the stock. On September 07, 2022, Truist Initiated their recommendations, while on April 14, 2022, Guggenheim Initiated their ratings for the stock with a price target of $6. Stock get a Neutral rating from Credit Suisse on April 01, 2022.
