In the last trading session, 1.53 million American Well Corporation (NYSE:AMWL) shares changed hands as the company’s beta touched 1.02. With the company’s per share price at $0.84 changed hands at $0.01 or 0.94% during last session, the market valuation stood at $242.33M. AMWL’s last price was a discount, traded about -225.0% off its 52-week high of $2.73. The share price had its 52-week low at $0.83, which suggests the last value was 1.19% up since then. When we look at American Well Corporation’s average trading volume, we note the 10-day average is 2.01 million shares, with the 3-month average coming to 1.47 million.
American Well Corporation (NYSE:AMWL) trade information
Instantly AMWL was in green as seen at the end of in last trading. With action -2.82%, the performance over the past five days has been red. The jump to weekly highs of 0.9399 added 0.94% to the stock’s daily price. The company’s shares are showing year-to-date downside of -43.77%, with the 5-day performance at -2.82% in the red. However, in the 30-day time frame, American Well Corporation (NYSE:AMWL) is -21.70% down. Looking at the short shares, we see there were 4.37 million shares sold at short interest cover period of 3.18 days.
American Well Corporation (AMWL) estimates and forecasts
Data shows that the American Well Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -26.51% over the past 6 months, a 70.59% in annual growth rate that is considerably higher than the industry average of 20.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for American Well Corporation will rise 86.60%, while the growth in revenue is estimated to hit 45.50% for the next quarter. Year-over-year growth is forecast to reach 1.10% up from the last financial year.
Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $60.52 million. 11 analysts are of the opinion that American Well Corporation’s revenue for the quarter ending Jun 2024 will be $62.25 million. The company’s revenue for the corresponding quarters a year ago was $64.7 million and $62.45 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -6.50%. The estimates for the next quarter sales put growth at -0.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -59.64%. The 2024 estimates are for American Well Corporation earnings to increase by 66.91%, but the outlook for the next 5-year period is at 36.80% per year.
AMWL Dividends
American Well Corporation is expected to release its next quarterly earnings report between May 01 and May 06.
American Well Corporation (NYSE:AMWL)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 7.85% of American Well Corporation shares while 58.37% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 63.35%. There are 58.37% institutions holding the American Well Corporation stock share, with Senvest Management LLC the top institutional holder. As of Dec 30, 2023, the company held 9.18% of the shares, roughly 23.53 million AMWL shares worth $19.71 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 8.39% or 21.51 million shares worth $18.02 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 6.92 million shares estimated at $5.8 million under it, the former controlled 2.70% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.35% of the shares, roughly 6.03 million shares worth around $5.05 million.
