In yesterday’s Wall Street session, American Well Corporation (NYSE:AMWL) shares traded at $0.66, down -7.74% from the previous session.
AMWL stock price is now -32.70% away from the 50-day moving average and -50.21% away from the 200-day moving average. The market capitalization of the company currently stands at $192.29M.
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With the price target reduced from $5 to $2.50, Morgan Stanley Downgraded its rating from Overweight to Equal-Weight for American Well Corporation (NYSE: AMWL). On March 23, 2023, TD Cowen Downgraded its previous ‘Outperform’ rating to ‘Market Perform’ on the stock reducing its target price from $5 to quote $2.50, while ‘Piper Sandler’ rates the stock as ‘Neutral’
In other news, Shepardson Robert, Chief Financial Officer sold 7,569 shares of the company’s stock on Apr 01 ’24. The stock was sold for $5,844 at an average price of $0.77. Upon completion of the transaction, the Chief Financial Officer now directly owns 2,784,414 shares in the company, valued at $1.84 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 01 ’24, President, International Gotlib Phyllis sold 6,891 shares of the business’s stock. A total of $5,321 was realized by selling the stock at an average price of $0.77. This leaves the insider owning 2,459,579 shares of the company worth $1.62 million. A total of 23.12% of the company’s stock is owned by insiders.
During the past 12 months, American Well Corporation has had a low of $0.71 and a high of $2.73. As of last week, the company has a debt-to-equity ratio of 0.03, a current ratio of 4.77, and a quick ratio of 4.70. The fifty day moving average price for AMWL is $0.9879 and a two-hundred day moving average price translates $1.3353 for the stock.
The latest earnings results from American Well Corporation (NYSE: AMWL) was released for Dec, 2023. According to the Health Information Services Company, earnings per share came in at -$0.17, beating analysts’ expectations of -$0.2 by 0.03. This compares to -$0.22 EPS in the same period last year. The net profit margin was -260.63% and return on equity was -88.37% for AMWL. The company reported revenue of $70.68 million for the quarter, compared to $79.23 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -10.8 percent. For the current quarter, analysts expect AMWL to generate $60.52M in revenue.
