The share price of American Well Corporation (NYSE:AMWL) fell to $2.21 per share on Wednesday from $2.33. While American Well Corporation has underperformed by -5.15%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AMWL fell by -50.45%, with highs and lows ranging from $5.43 to $2.15, whereas the simple moving average fell by -41.29% in the last 200 days.
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On March 23, 2023, TD Cowen Downgraded American Well Corporation (NYSE: AMWL) to Market Perform. A report published by Piper Sandler on February 27, 2023, Downgraded its rating to ‘Neutral’ for AMWL. BofA Securities also Upgraded AMWL shares as ‘Buy’, setting a target price of $4.20 on the company’s shares in a report dated January 04, 2023. Truist Initiated an Hold rating on September 07, 2022, and assigned a price target of $5. Guggenheim initiated its ‘Buy’ rating for AMWL, as published in its report on April 14, 2022. Credit Suisse’s report from April 01, 2022 suggests a price prediction of $5 for AMWL shares, giving the stock a ‘Neutral’ rating. Goldman also rated the stock as ‘Neutral’.
Analysis of American Well Corporation (AMWL)
Further, the quarter-over-quarter increase in sales is 8.80%, showing a positive trend in the upcoming months.
To gain a thorough understanding of American Well Corporation’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -24.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 5.40, 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.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and AMWL is recording an average volume of 1.34M. On a monthly basis, the volatility of the stock is set at 5.79%, whereas on a weekly basis, it is put at 5.08%, with a loss of -5.15% over the past seven days. Furthermore, long-term investors anticipate a median target price of $3.68, showing growth from the present price of $2.21, 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?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. 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 13.66% in the first quarter. The company now owns 21,236,794 shares of the stock, with a value of $59.25 million, following the purchase of 2,551,565 additional shares during the last quarter. Caledonia made another decreased to its shares in AMWL during the first quarter, downing its stake by -1.13%. During the last quarter, the company picked up -197,737 additional shares for a total stake of worth $48.35 million, bringing number of shares owned by the company to 17,330,824.
During the first quarter, Senvest Management LLC added a 4,427,986 position in AMWL. BlackRock Fund Advisors purchased an additional 1.19 million shares in the last quarter, increasing its holdings by 8.05%, now holding 16.01 million shares worth $44.65 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its AMWL holdings by 4.66% and now holds 6.0 million AMWL shares valued at $16.74 million with the added 0.27 million shares during the period. AMWL shares are owned by institutional investors to the tune of 54.40% at present.
