Butterfly Network (NYSE:BFLY) Shares Gap Up to $2.53

Butterfly Network, Inc. (NYSE:BFLYGet Rating)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $2.53, but opened at $2.61. Butterfly Network shares last traded at $2.72, with a volume of 10,526 shares.

Analyst Ratings Changes

Several equities research analysts have weighed in on BFLY shares. Oppenheimer initiated coverage on Butterfly Network in a research report on Monday, November 28th. They set an “outperform” rating and a $4.50 price target on the stock. B. Riley initiated coverage on shares of Butterfly Network in a research note on Tuesday, October 4th. They issued a “buy” rating and a $9.50 target price for the company.

Butterfly Network Stock Performance

The stock has a market cap of $509.44 million, a PE ratio of -3.39 and a beta of 1.78. The company has a 50 day moving average of $2.74 and a two-hundred day moving average of $4.42.

Butterfly Network (NYSE:BFLYGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). Butterfly Network had a negative net margin of 204.70% and a negative return on equity of 37.78%. The business had revenue of $19.62 million during the quarter, compared to analysts’ expectations of $21.40 million. As a group, equities research analysts anticipate that Butterfly Network, Inc. will post -0.89 EPS for the current year.

Insiders Place Their Bets

In other news, insider Darius Shahida sold 26,885 shares of Butterfly Network stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $2.36, for a total value of $63,448.60. Following the sale, the insider now owns 629,908 shares in the company, valued at $1,486,582.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 28.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Butterfly Network

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Madison Asset Management LLC purchased a new stake in shares of Butterfly Network during the second quarter worth approximately $31,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Butterfly Network in the second quarter valued at about $31,000. Pathstone Family Office LLC purchased a new position in shares of Butterfly Network in the third quarter worth about $48,000. TownSquare Capital LLC acquired a new position in Butterfly Network during the second quarter worth about $32,000. Finally, Tower Research Capital LLC TRC grew its stake in Butterfly Network by 177.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,466 shares of the company’s stock valued at $49,000 after acquiring an additional 6,689 shares in the last quarter. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Butterfly Network Company Profile

(Get Rating)

Butterfly Network, Inc, a digital health company, 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+, a point-of-care ultrasound imaging device that connects with a smartphone, tablet, and hospital computer system; and Butterfly Blueprint, a system-wide ultrasound platform with Compass software that integrates into a healthcare system's clinical and administrative infrastructure.

See Also

Receive News & Ratings for Butterfly Network Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Butterfly Network and related companies with MarketBeat.com's FREE daily email newsletter.