Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. American Well Corporation shares valued at $5,844 were sold by Shepardson Robert on Apr 01 ’24. At $0.77 per share, Shepardson Robert sold 7,569 shares. The insider’s holdings dropped to 2,784,414 shares worth approximately $2.23 million following the completion of this transaction.
Also, Gotlib Phyllis sold 6,891 shares, netting a total of over 5,321 in proceeds. Following the sale of shares at $0.77 each, the insider now holds 2,459,579 shares.
Before that, Knight Kurt had sold 6,157 shares from its account. In a trade valued at $4,754, the Chief Operating Officer traded American Well Corporation shares for $0.77 each. Upon closing the transaction, the insider’s holdings decreased to 6,157 shares, worth approximately $2.47 million.
As published in a research note from Morgan Stanley on August 03, 2023, American Well Corporation [AMWL] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $2.50 from $5. Analysts at TD Cowen downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in late March. As of February 27, 2023, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for AMWL. Earlier on January 04, 2023, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for AMWL stock which previously was a “a Neutral”.
Analyzing AMWL Stock Performance
During the last five days, there has been a drop of approximately -7.12%. Over the course of the year, American Well Corporation shares have dropped approximately -46.23%. Shares of the company reached a 52-week high of $1.5600 on 01/02/24 and a 52-week low of $0.7311 on 04/02/24. A 50-day SMA is recorded $1.0121, while a 200-day SMA reached $1.3574. Nevertheless, trading volume fell to 2.76 million shares from 6.41 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 0.7445, which, if violated, would cause prices to drop to 0.6879. In the upper region, resistance lies at 0.8582. The next price resistance is at 0.9153. RSI (Relative Strength Index) is 37.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0657, which suggests the price will decrease in the coming days. Percent R is at 66.48%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.
Is American Well Corporation subject to short interest?
Stocks of American Well Corporation saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.71 million shares to 4.34 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.63 million shares. A jump of 16.36% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.49 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.49.
