Butterfly Network Inc (BFLY) Looks Ready for Growth Despite -5.56% Change This Year

Butterfly Network Inc (NYSE: BFLY) is -5.56% lower on its value in year-to-date trading and has touched a low of $0.76 and a high of $2.90 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The BFLY stock was last observed hovering at around $0.95 in the last trading session, with the day’s gains setting it 0.07%.

Currently trading at $1.02, the stock is 3.15% and 1.44% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.42 million and changing 7.37% at the moment leaves the stock -34.69% off its SMA200. BFLY registered -60.00% loss for a year compared to 6-month loss of -46.88%. The firm has a 50-day simple moving average (SMA 50) of $1.27 and a 200-day simple moving average (SMA200) of -$0.77.

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The stock witnessed a -6.42% gain in the last 1 month and extending the period to 3 months gives it a -5.56%, and is 16.35% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.39% over the week and 8.20% over the month.

Profit margin for the company is -180.32%. Distance from 52-week low is 34.12% and -64.83% from its 52-week high. The company has generated returns on investments over the last 12 months (-43.90%).

Butterfly Network Inc quarterly earnings per share for the current quarter are estimated at -$0.14 with sales reaching $15.19M over the same period.The EPS is expected to grow by 31.55% this year, but quarterly earnings will post -12.10% year-over-year. Quarterly sales are estimated to shrink -20.00% in year-over-year returns.

Butterfly Network Inc (BFLY) Top Institutional Holders

214 institutions hold shares in Butterfly Network Inc (BFLY), with institutional investors hold 51.99% of the company’s shares. The shares outstanding are 174.46M, and float is at 149.83M with Short Float at 12.19%. Institutions hold 45.53% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 12.97 million shares valued at $29.82 million. The investor’s holdings represent 7.20% of the BFLY Shares outstanding. As of Sep 29, 2023, the second largest holder is ARK Investment Management, LLC with 12.72 million shares valued at $15.0 million to account for 7.06% of the shares outstanding. The other top investors are Blackrock Inc. which holds 10.99 million shares representing 6.10% and valued at over $25.27 million, while Fosun International Ltd holds 5.95% of the shares totaling 10.72 million with a market value of $24.65 million.

Butterfly Network Inc (BFLY) Insider Activity

A total of 4 insider transactions have happened at Butterfly Network Inc (BFLY) in the last six months, with sales accounting for 3 and purchases happening 1 times. The most recent transaction is an insider sale by Getz Heather C,the company’sEVP, CFO & COO. SEC filings show that Getz Heather C sold 66,142 shares of the company’s common stock on Jan 05 at a price of $1.02 per share for a total of $67465.0. Following the sale, the insider now owns 1.52 million shares.

Butterfly Network Inc disclosed in a document filed with the SEC on Jan 05 that Stoica Andrei G (Chief Technology Officer) sold a total of 35,612 shares of the company’s common stock. The trade occurred on Jan 05 and was made at $1.02 per share for $36324.0. Following the transaction, the insider now directly holds 0.98 million shares of the BFLY stock.

Still, SEC filings show that on Dec 26, Stoica Andrei G (Chief Technology Officer) disposed off 2,247 shares at an average price of $1.03 for $2326.0. The insider now directly holds 1,013,898 shares of Butterfly Network Inc (BFLY).