American Well Corporation’s (NYSE: AMWL) Stock Prices May Increase Drastically In The Near Future.

In the last trading session, 2.53 million shares of the American Well Corporation (NYSE:AMWL) were traded, and its beta was 1.01. Most recently the company’s share price was $0.81, and it changed around -$0.05 or -6.01% from the last close, which brings the market valuation of the company to $234.49M. AMWL currently trades at a discount to its 52-week high of $2.73, offering almost -237.04% off that amount. The share price’s 52-week low was $0.82, which indicates that the current value has fallen by an impressive -1.23% since then. We note from American Well Corporation’s average daily trading volume that its 10-day average is 1.86 million shares, with the 3-month average coming to 1.41 million.

American Well Corporation stock received a consensus recommendation rating of Hold, based on a mean score of 2.69. If we narrow it down even further, the data shows that 0 out of 14 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 12 recommended AMWL as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. American Well Corporation is expected to report earnings per share of -$0.19 for the current quarter.

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American Well Corporation (NYSE:AMWL) trade information

Instantly AMWL has showed a red trend with a performance of -6.01% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -45.59% year-to-date, but still down -11.09% over the last five days. On the other hand, American Well Corporation (NYSE:AMWL) is -22.79% down in the 30-day period. We can see from the shorts that 4.34 million shares have been sold at a short interest cover period of 2.49 day(s).

The consensus price target as assigned by Wall Street analysts is $8.4, which translates to bulls needing to increase their stock price by 90.36% from its current value. Analyst projections state that AMWL is forecast to be at a low of $5 and a high of $15.

American Well Corporation (AMWL) estimates and forecasts

American Well Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -31.30 percent over the past six months and at a 70.59% annual growth rate that is well above the industry average of 23.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 86.60% in revenue this quarter, and will report an increase of 45.50% in the next quarter. The year-over-year growth rate is expected to be 1.10%, up from the previous year.

Consensus estimates provided by 11 financial analysts predict the company will bring in an average of $60.52 million in revenue for the current quarter. 11 analysts expect American Well Corporation to make $62.25 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $64.7 million and $62.45 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -6.50%. Forecasts for the next quarter put sales growth at -0.30%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -59.64%. American Well Corporation earnings are expected to increase by 66.91% in 2024, but the outlook is positive 36.80% per year for the next five years.

AMWL Dividends

American Well Corporation’s next quarterly earnings report is expected to be released around May 01 and May 06.

American Well Corporation (NYSE:AMWL)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 7.85% of American Well Corporation shares, and 58.37% of them are in the hands of institutional investors. The stock currently has a share float of 63.35%. American Well Corporation stock is held by 190 institutions, with Senvest Management LLC being the largest institutional investor. By Dec 30, 2023, it held 9.18% of the shares, which is about 23.53 million shares worth $19.08 million.

Blackrock Inc., with 8.39% or 21.51 million shares worth $17.44 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Dec 30, 2023. The former held 6.92 million shares worth $5.61 million, making up 2.70% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 6.03 million shares worth around $4.89 million, which represents about 2.35% of the total shares outstanding.