Butterfly Network, Inc. (NYSE:BFLY - Get Free Report)'s stock price dropped 5.3% during mid-day trading on Wednesday . The company traded as low as $2.40 and last traded at $2.39. Approximately 435,486 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,845,344 shares. The stock had previously closed at $2.52.
Analysts Set New Price Targets
Separately, William Blair began coverage on shares of Butterfly Network in a research report on Monday, March 17th. They set an "outperform" rating on the stock.
Get Our Latest Report on BFLY
Butterfly Network Stock Performance
The firm has a market capitalization of $551.44 million, a PE ratio of -4.93 and a beta of 2.60. The stock has a fifty day moving average price of $2.98 and a 200-day moving average price of $3.04.
Hedge Funds Weigh In On Butterfly Network
A number of institutional investors have recently bought and sold shares of the business. White Pine Capital LLC purchased a new stake in shares of Butterfly Network during the 4th quarter worth about $398,000. Baader Bank Aktiengesellschaft acquired a new position in Butterfly Network during the fourth quarter worth $287,000. Palumbo Wealth Management LLC grew its position in shares of Butterfly Network by 528.1% in the fourth quarter. Palumbo Wealth Management LLC now owns 73,370 shares of the company's stock valued at $229,000 after purchasing an additional 61,688 shares during the period. Calamos Advisors LLC purchased a new position in Butterfly Network in the 4th quarter valued at about $525,000. Finally, Geode Capital Management LLC raised its holdings in shares of Butterfly Network by 4.0% during the third quarter. Geode Capital Management LLC now owns 1,721,723 shares of the company's stock valued at $3,049,000 after acquiring an additional 65,425 shares during the last quarter. 37.85% of the stock is owned by hedge funds and other institutional investors.
About Butterfly Network
(
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.
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