In Tuesday’s session, American Well Corporation (NYSE:AMWL) marked $3.69 per share, down from $3.87 in the previous session. While American Well Corporation has underperformed by -4.65%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AMWL fell by -9.56%, with highs and lows ranging from $5.43 to $2.52, whereas the simple moving average fell by -4.84% in the last 200 days.
On January 04, 2023, BofA Securities Upgraded American Well Corporation (NYSE: AMWL) to Buy. A report published by Truist on September 07, 2022, Initiated its previous ‘Hold’ rating for AMWL. Guggenheim also rated AMWL shares as ‘Buy’, setting a target price of $6 on the company’s shares in an initiating report dated April 14, 2022. Credit Suisse Initiated an Neutral rating on April 01, 2022, and assigned a price target of $5. Goldman initiated its ‘Neutral’ rating for AMWL, as published in its report on February 11, 2022. Jefferies’s report from December 02, 2021 suggests a price prediction of $6 for AMWL shares, giving the stock a ‘Hold’ rating. Wells Fargo also rated the stock as ‘Equal Weight’.
Analysis of American Well Corporation (AMWL)
Further, the quarter-over-quarter increase in sales is 11.30%, showing a positive trend in the upcoming months.
American Well Corporation’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -22.10% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 6.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and AMWL has an average volume of 1.51M. On a monthly basis, the volatility of the stock is set at 6.37%, whereas on a weekly basis, it is put at 5.12%, with a loss of -5.63% over the past seven days. Furthermore, long-term investors anticipate a median target price of $5.13, showing growth from the present price of $3.69, which can serve as yet another indication of whether AMWL is worth investing in or should be passed over.
How Do You Analyze American Well Corporation Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 4.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 54.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in AMWL shares?
The recent increase in stakes in AMWL appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in AMWL has increased by 6.35% in the first quarter. The company now owns 18,685,229 shares of the stock, with a value of $52.88 million, following the purchase of 1,115,920 additional shares during the last quarter. Caledonia made another decreased to its shares in AMWL during the first quarter, downing its stake by -3.00%. During the last quarter, the company picked up -541,684 additional shares for a total stake of worth $49.61 million, bringing number of shares owned by the company to 17,528,561.
During the first quarter, BlackRock Fund Advisors added a 730,035 position in AMWL. Senvest Management LLC purchased an additional 0.29 million shares in the last quarter, increasing its holdings by 2.44%, now holding 12.16 million shares worth $34.4 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its AMWL holdings by 4.58% and now holds 5.73 million AMWL shares valued at $16.22 million with the added 0.25 million shares during the period. AMWL shares are owned by institutional investors to the tune of 54.40% at present.