Butterfly Network, Inc. (NYSE:BFLY - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.14, but opened at $2.22. Butterfly Network shares last traded at $2.14, with a volume of 1,328,799 shares changing hands.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on BFLY shares. Lake Street Capital decreased their price objective on Butterfly Network from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. William Blair initiated coverage on shares of Butterfly Network in a research note on Monday, March 17th. They set an "outperform" rating on the stock.
Get Our Latest Stock Report on Butterfly Network
Butterfly Network Stock Performance
The company has a market capitalization of $530.43 million, a price-to-earnings ratio of -4.66 and a beta of 2.59. The company has a fifty day simple moving average of $2.36 and a two-hundred day simple moving average of $3.10.
Butterfly Network (NYSE:BFLY - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.25%. The firm had revenue of $21.23 million during the quarter, compared to analyst estimates of $21.16 million. As a group, analysts expect that Butterfly Network, Inc. will post -0.35 EPS for the current year.
Insider Buying and Selling
In other news, EVP Heather C. Getz sold 65,456 shares of Butterfly Network stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $2.20, for a total value of $144,003.20. Following the transaction, the executive vice president now directly owns 2,919,274 shares of the company's stock, valued at $6,422,402.80. The trade was a 2.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joseph Devivo sold 320,215 shares of the business's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $2.44, for a total value of $781,324.60. Following the sale, the chief executive officer now owns 7,249,789 shares of the company's stock, valued at $17,689,485.16. The trade was a 4.23% decrease in their position. The disclosure for this sale can be found here. 25.18% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of BFLY. Barclays PLC increased its position in shares of Butterfly Network by 27,790.0% in the third quarter. Barclays PLC now owns 25,101 shares of the company's stock worth $44,000 after acquiring an additional 25,011 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Butterfly Network during the 4th quarter valued at $46,000. Kingswood Wealth Advisors LLC purchased a new stake in Butterfly Network during the 4th quarter worth $70,000. Baader Bank Aktiengesellschaft acquired a new stake in Butterfly Network in the 4th quarter valued at $287,000. Finally, Calamos Advisors LLC acquired a new stake in Butterfly Network in the 4th quarter valued at $525,000. Hedge funds and other institutional investors own 37.85% of the company's stock.
Butterfly Network Company Profile
(
Get Free Report)
Butterfly Network, Inc develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. It offers Butterfly iQ, a handheld and single-probe whole body ultrasound system; Butterfly iQ+ and iQ3 ultrasound devices that can perform whole-body imaging in a single handheld probe integrated with the clinical workflow, and accessible on a user's smartphone, tablet, and almost any hospital computer system; and Butterfly iQ+ Vet, a handheld ultrasound system designed for veterinarians.
See Also
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