1,000,000 Shares in Butterfly Network, Inc. $BFLY Bought by AWM Investment Company Inc.

Key Points

• AWM Investment Company Inc. has announced a new investment of approximately $2.28 million in shares of Butterfly Network, acquiring 1,000,000 shares of stock and owning around 0.40% of the company.
• Butterfly Network's shares opened at $1.54 and have shown a 12-month price range between $1.15 and $4.98, with the company reporting a negative net margin of 71.79% for the latest quarter.
• Several institutional investors, including Vanguard Group and First Light Asset Management, have increased their stakes in Butterfly Network, which now has 37.85% of its stock owned by institutional investors.

AWM Investment Company Inc. bought a new stake in shares of Butterfly Network, Inc. (NYSE:BFLY - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,000,000 shares of the company's stock, valued at approximately $2,280,000. AWM Investment Company Inc. owned 0.40% of Butterfly Network as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Butterfly Network by 15.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 31,024 shares of the company's stock worth $97,000 after purchasing an additional 4,212 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Butterfly Network by 33.0% in the first quarter. Bank of New York Mellon Corp now owns 20,177 shares of the company's stock worth $46,000 after acquiring an additional 5,010 shares in the last quarter. Ground Swell Capital LLC acquired a new position in shares of Butterfly Network in the fourth quarter worth $32,000. Total Wealth Planning & Management Inc. acquired a new position in shares of Butterfly Network during the first quarter worth $25,000. Finally, TradeLink Capital LLC acquired a new position in shares of Butterfly Network during the first quarter worth $25,000. 37.85% of the stock is owned by hedge funds and other institutional investors.

Butterfly Network Stock Performance

NYSE BFLY traded up $0.03 during mid-day trading on Friday, reaching $1.56. 1,545,844 shares of the stock were exchanged, compared to its average volume of 3,105,032. The stock has a market capitalization of $391.46 million, a PE ratio of -5.55 and a beta of 2.52. The business's fifty day simple moving average is $1.68 and its 200 day simple moving average is $2.22. Butterfly Network, Inc. has a 1-year low of $1.32 and a 1-year high of $4.98.

Butterfly Network (NYSE:BFLY - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. Butterfly Network had a negative return on equity of 30.53% and a negative net margin of 71.79%.The firm had revenue of $23.38 million for the quarter, compared to analysts' expectations of $23.91 million. Butterfly Network has set its FY 2025 guidance at EPS. On average, analysts anticipate that Butterfly Network, Inc. will post -0.35 EPS for the current year.

Insider Buying and Selling

In other Butterfly Network news, insider Steve Cashman bought 50,000 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average cost of $1.64 per share, with a total value of $82,000.00. Following the completion of the purchase, the insider directly owned 2,324,474 shares in the company, valued at approximately $3,812,137.36. This trade represents a 2.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 25.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BFLY. Oppenheimer restated a "market perform" rating on shares of Butterfly Network in a research note on Friday, August 1st. Craig Hallum reaffirmed a "positive" rating and issued a $2.00 target price on shares of Butterfly Network in a report on Monday, August 4th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Butterfly Network presently has an average rating of "Moderate Buy" and a consensus price target of $3.00.

Butterfly Network Company Profile

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.