Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. American Well Corporation shares valued at $7,176 were sold by Schlegel Stephen J. on Nov 02. At $3.97 per share, Schlegel Stephen J. sold 1,808 shares. The insider’s holdings dropped to 93,453 shares worth approximately $0.35 million following the completion of this transaction.
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Also, Jackson Deborah C sold 2,377 shares, netting a total of over 9,461 in proceeds. Following the sale of shares at $3.98 each, the insider now holds 68,918 shares.
Before that, Gay Bradford had sold 2,181 shares from its account. In a trade valued at $8,655, the Senior VP, General Counsel traded American Well Corporation shares for $3.97 each. Upon closing the transaction, the insider’s holdings decreased to 2,181 shares, worth approximately $2.97 million.
As published in their initiating research note from Truist on September 07, 2022, American Well Corporation [AMWL] has been a Hold and the price target has been revised to $5. This represents a 25.0% premium over Thursday’s closing price. Analysts at Guggenheim started covering the stock with ‘”a Buy”‘ outlook in a report released in mid April. Earlier on February 11, 2022, Goldman initiated its rating. Their recommendation was “a Neutral” for AMWL stock.
Analyzing AMWL Stock Performance
On Thursday, American Well Corporation [NYSE: AMWL] plunged -2.60% to $3.75. The stock’s lowest price that day was $3.60, but it reached a high of $3.81 in the same session. During the last five days, there has been a drop of approximately -1.83%. Over the course of the year, American Well Corporation shares have dropped approximately -37.91%. Shares of the company reached a 52-week high of $6.30 on 01/03/22 and a 52-week low of $2.52 on 05/11/22. A 50-day SMA is recorded $3.93, while a 200-day SMA reached $4.02. Nevertheless, trading volume fell to 1.27 million shares from 1.16 million shares the previous day.
Support And Resistance Levels for American Well Corporation (AMWL)
According to the 24-hour chart, there is a support level at 3.63, which, if violated, would cause prices to drop to 3.51. In the upper region, resistance lies at 3.84. The next price resistance is at 3.93. RSI (Relative Strength Index) is 47.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.11, which suggests the price will decrease in the coming days. Percent R is at 55.11%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is American Well Corporation subject to short interest?
Stocks of American Well Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by 30000.0 shares to 9.96 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 9.99 million shares. A decline of -0.3% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.22 of the overall float, the days-to-cover ratio (short ratio) decline to 4.22.
Which companies own the most shares of American Well Corporation (AMWL)?
According to Caledonia filings, the company currently owns 18,070,245 shares, which is about 7.51% of the total AMWL shares outstanding. The investor’s shares have appreciated by 2,053,997 from its previous 13-F filing of 16016248.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $63,073,819. BlackRock Fund Advisors acquire a 21.66% interest valued at $53.18 million while Senvest Management LLC purchased a 1,833,455 stake. A total of 899,260 shares of American Well Corporation were bought by SSgA Funds Management, Inc. during the quarter, and -69,595 were sold by Eagle Health Investments LP. In its current portfolio, Geode Capital Management LLC holds 3,715,477 shares valued at $13.34 million.