The stock of American Well Corporation (NYSE:AMWL) last traded at $1.38, up 10.40% from the previous session.
AMWL stock price is now 16.65% away from the 50-day moving average and -23.56% away from the 200-day moving average. The market capitalization of the company currently stands at $396.85M.
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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).
In other news, Knight Kurt, Chief Operating Officer sold 25,867 shares of the company’s stock on Dec 05. The stock was sold for $32,197 at an average price of $1.24. Upon completion of the transaction, the Chief Operating Officer now directly owns 1,238,558 shares in the company, valued at $1.71 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 01, Chief Financial Officer Shepardson Robert sold 24,990 shares of the business’s stock. A total of $31,565 was realized by selling the stock at an average price of $1.26. This leaves the insider owning 1,001,130 shares of the company worth $1.38 million. Insiders disposed of 2,733,405 shares of company stock worth roughly $3.77 million over the past 1 year. A total of 20.92% of the company’s stock is owned by insiders.
During the past 12 months, American Well Corporation has had a low of $0.93 and a high of $4.28. As of last week, the company has a debt-to-equity ratio of 0.02, a current ratio of 4.93, and a quick ratio of 4.85. The fifty day moving average price for AMWL is $1.1831 and a two-hundred day moving average price translates $1.8053 for the stock.
The latest earnings results from American Well Corporation (NYSE: AMWL) was released for Sep, 2023. According to the Health Information Services Company, earnings per share came in at -$0.48, missing analysts’ expectations of -$0.21 by -0.27. This compares to -$0.25 EPS in the same period last year. The net profit margin was -257.00% and return on equity was -86.69% for AMWL. The company reported revenue of $61.92 million for the quarter, compared to $69.21 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -10.53 percent. For the current quarter, analysts expect AMWL to generate $70.21M in revenue.
American Well Corporation(AMWL) Company Profile
American Well Corporation operates digital care delivery enablement platform in the United States and internationally. Its platform connects and enables providers, insurers, patients, and innovators to deliver access for quality care. The company’s products offer urgent care; scheduled visits; acute behavioral health; telestroke; comprehensive behavioral health; ED triage; pediatrics; end-stage renal disease and dialysis; and retail health, school health, and home settings. Its application offers telehealth urgent care; primary care; chronic care; digital therapy; teledermatology; manage Medicaid; behavior health; online nutrition counselling; sleep; women’s health; employee assistance program therapy; and musculoskeletal care. The company also provides telemedicine equipment, including telemedicine carts, peripherals, tyto care, hospital TV kits, and telehealth tablets. American Well Corporation was incorporated in 2006 and is headquartered in Boston, Massachusetts.
