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The Next Few Weeks Are A Good Time To Consider American Well Corporation (AMWL)

American Well Corporation (NYSE:AMWL) price on Friday, March 17, fall -4.80% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.38.

A look at the stock’s price movement, the close in the last trading session was $2.50, moving within a range at $2.28 and $2.54. The beta value (5-Year monthly) was 0.72. Turning to its 52-week performance, $5.43 and $2.29 were the 52-week high and 52-week low respectively. Overall, AMWL moved -38.82% over the past month.

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American Well Corporation’s market cap currently stands at around $702.86 million, with investors looking forward to this quarter’s earnings report slated for May 08, 2023 – May 12, 2023. Analysts project the company’s earnings per share (EPS) to be -$0.25, which has seen fiscal year 2022 EPS growth forecast to increase to -$1.02 and about -$0.72 for fiscal year 2023. Per the data, EPS growth is expected to be -47.80% for 2023 and 29.40% for the next financial year.

Analysts have a consensus estimate of $78.05 million for the company’s revenue for the quarter, with a low and high estimate of $77 million and $82.1 million respectively. The average forecast suggests up to a 7.30% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $276.06 million, representing a 9.20% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that AMWL is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.

15 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 11 analyst(s) rate the stock as a Hold, 4 recommend AMWL as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

AMWL’s current price about -17.36% and -30.18% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 28.87, while 7-day volatility ratio is 6.85% and 6.21% in the 30-day chart. Further, American Well Corporation (AMWL) has a beta value of 0, and an average true range (ATR) of 0.19. Analysts have given the company’s stock an average 52-week price target of $3.88, forecast between a low of $3.00 and high of $5.00. Looking at the price targets, the low is -26.05% off current price level while to achieve the yearly target high, price needs to move -110.08%. Nonetheless, investors will most likely welcome a -57.98% jump to $3.76 which is the analysts’ median price.

In the market, a comparison of American Well Corporation (AMWL) and its peers suggest the former has performed considerably weaker. Data shows AMWL’s intraday price has changed -4.80% in last session and -33.89% over the past year. Comparatively, Microsoft Corporation (MSFT) has moved 1.17% on the day and only -5.08% in the past 12 months. Looking at another peer, we see that Amazon.com Inc. (AMZN) price has dipped -1.09% on the day. However, the stock is -35.37% off its price a year ago. Moreover, Cigna Corporation (CI) is also down -1.81% in trading on the day while keeping a an uptrend of 13.45% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.

If we refocus on American Well Corporation (NYSE:AMWL), historical trading data shows that trading volumes averaged 1.53 million over the past 10 days and 1.47 million over the past 3 months. The company’s latest data on shares outstanding shows there are 264.83 million shares.

The 4.50% of American Well Corporation’s shares are in the hands of company insiders while institutional holders own 54.40% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 11.59 million on Jan 30, 2023, giving us a short ratio of 9.29. The data shows that as of Jan 30, 2023 short interest in American Well Corporation (AMWL) stood at 4.21% of shares outstanding, with shares short falling to 12.3 million registered in Dec 29, 2022. Current price change has pushed the stock -15.90% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the AMWL stock continues to rise going into the next quarter.

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