Butterfly Network Inc. (NYSE:BFLY) traded with a subtraction of -$0.01 to $1.75 on Thursday, a downside of -0.28 percent. An average of 1,248,399 shares of common stock have been traded in the last five days. There was a fall of -$0.0400 in the past week, and it reached a new high 5 times over the past 12 months. The last 20 days have seen an average of 1,712,905 shares traded, while the 50-day average volume stands at 1,692,008.
BFLY stock has decreased by -28.07% in the last month. The company shares reached their 1-month lowest point of $1.6700 on 08/24/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $1.62 and a high of $6.77 in 52 weeks. It has reached a new high 5 times so far this year and lost -28.66% or -$0.7200 in price. In spite of this, the price is down -74.08% from the 52-week high.
Insider Transactions
BFLY stock investors should be aware that Butterfly Network Inc. (BFLY) stock had its last reported insider trading activity 50 days ago on Jul 05. In this transaction, the insider spent $143,482. Chief Technology Officer, Stoica Andrei G, disposed of 45,633 shares at a price of $2.19 on Jul 05. The insider now owns more than $99,845 worth of shares. Prior to that, CLO, GC and Corp Sec Weiss Lawrence T went on to Sale 27,655 shares at $2.19 each on Jul 05. An amount of $60,509 was transacted.
Valuation Metrics
Butterfly Network Inc. (BFLYstock’s beta is 1.78. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.91, the price-to-book (PB) ratio at 1.12.
Financial Health
The quick ratio of Butterfly Network Inc. for the three months ended June 29 was 4.50, and the current ratio was 6.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $39.46 million compared to revenue of $73.39 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Butterfly Network Inc.’s return on assets was -37.50%.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$28.67 million in the quarter, while revenues of -$33.54 million were shrunk -24.87%. The analyst consensus anticipated Butterfly Network Inc.’s latest quarter earnings to come in at -$0.16 per share, but it turned out to be -$0.14, a 12.50% surprise. For the quarter, EBITDA amounted to -$29.07 million. Shareholders own equity worth $206.63 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Butterfly Network Inc. (BFLY) price momentum. RSI 9-day as of the close on 23 August was 28.52%, suggesting the stock is oversold, with historical volatility in this time frame at 33.11%.
As of today, BFLY’s price is $1.7880 -2.25% or -$0.0400 from its 5-day moving average. BFLY is currently trading -22.32% lower than its 20-day SMA and -7.45% lower than its 100-day SMA. However, the stock’s current price level is -28.10% below the SMA50 and -52.72% below the SMA200.
The stochastic %K and %D were 8.01% and 7.37%, respectively, and the average true range (ATR) was 0.1164. With the 14-day stochastic at 12.07% and the average true range at 0.1306, the RSI (14) stands at 33.99%. The stock has reached -0.0467 on the 9-day MACD Oscillator while the 14-day reading was at -0.0933.
Analyst Ratings
UBS launched coverage on Butterfly Network Inc. (NYSE: BFLY) in its analyst report released on March 29, 2023. The firm assigned the stock a Neutral rating. The consensus rating for Butterfly Network Inc. (BFLY) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BFLY, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is BFLY’s price target for the next 12 months?
Analysts predict a range of price targets between $2.25 and $4.00, with a median target of $3.88. Taking a look at these predictions, the average price target given by analysts for Butterfly Network Inc. (BFLY) stock is $3.50.
