Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. American Well Corporation shares valued at $512,447 were sold by Schoenberg Ido on May 15. At $2.04 per share, Schoenberg Ido sold 250,610 shares. The insider’s holdings dropped to 1,566,299 shares worth approximately $3.43 million following the completion of this transaction.
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Also, Schoenberg Roy sold 233,427 shares, netting a total of over 477,312 in proceeds. Following the sale of shares at $2.04 each, the insider now holds 2,426,926 shares.
Before that, Schoenberg Ido had sold 10,265 shares from its account. In a trade valued at $22,247, the Chairman, co-CEO traded American Well Corporation shares for $2.17 each. Upon closing the transaction, the insider’s holdings decreased to 10,265 shares, worth approximately $2.88 million.
Analyzing AMWL Stock Performance
On Thursday, American Well Corporation [NYSE: AMWL] plunged -0.45% to $2.19. The stock’s lowest price that day was $2.11, but it reached a high of $2.19 in the same session. During the last five days, there has been a drop of approximately -2.23%. Over the course of the year, American Well Corporation shares have dropped approximately -22.61%. Shares of the company reached a 52-week high of $4.28 on 02/03/23 and a 52-week low of $1.95 on 05/04/23. A 50-day SMA is recorded $2.19, while a 200-day SMA reached $3.33. Nevertheless, trading volume fell to 0.86 million shares from 0.85 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 2.14, which, if violated, would cause prices to drop to 2.08. In the upper region, resistance lies at 2.22. The next price resistance is at 2.24. RSI (Relative Strength Index) is 50.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.05, which suggests the price will decrease in the coming days. Percent R is at 47.13%, 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 Apr 27, 2023 dropping by -1.52 million shares to 8.78 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 10.3 million shares. A decline of -17.31% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.99 of the overall float, the days-to-cover ratio (short ratio) decline to 7.99.
Which companies own the most shares of American Well Corporation (AMWL)?
According to The Vanguard Group, Inc. filings, the company currently owns 21,497,974 shares, which is about 8.79% of the total AMWL shares outstanding. The investor’s shares have appreciated by 261,180 from its previous 13-F filing of 21236794.0 shares. With the completion of the buy transaction, Senvest Management LLC’s stake is now worth $42,615,028. In its current portfolio, Apo Asset Management GmbH holds 3,739,498 shares valued at $8.19 million.
In terms of American Well Corporation share price expectations, FactSet research, analysts set an average price target of $3.32 in the next 12 months, up nearly 36.36% from the previous closing price of $2.20. Analysts anticipate American Well Corporation stock to reach $5.00 by 2023, with the lowest price target being $2.50. In spite of this, 15 analysts ranked American Well Corporation stock as a Hold at the end of 2023.