The stock of Butterfly Network Inc. (NYSE:BFLY) increased by $0.13 on Tuesday to finish at $1.80, up 7.78 percent. The last five days have seen an average of 1,617,300 shares of common stock traded. 5 times new highs were reached in the current year, with a fall of -$0.6600. The average number of shares traded over the last 20 days was 1,793,595, while the average volume over the last 50 days totaled 1,675,694.
BFLY stock dropped -29.96% since last month. On 08/29/23, the company’s shares reached a one-month low of $1.6200. The stock touched a high of $6.77 on 02/02/23, after rallying from a low of $1.62 in 52 weeks. The price of BFLY stock has declined by -26.83% or -$0.6600 this year, reaching a new high 5 times. Still, the stock price is down -73.41% 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 56 days ago on Jul 05. On Jul 05, EVP & Chief Financial Officer Getz Heather C sold 65,577 shares at $2.19 each. This transaction resulted in the insider making $143,482. On Jul 05, Stoica Andrei G sold 45,633 shares at a price of US$2.19. After the transaction, the insider now owns 1,040,802 shares. CLO, GC and Corp Sec Weiss Lawrence T had earlier sold 27,655 shares on Jul 05 for $2.19 a share. The transaction was completed for $60,509.
Valuation Metrics
Beta for the stock is 1.80. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.01, the price-to-book (PB) ratio of 1.15.
Financial Health
For the three months ended June 29, Butterfly Network Inc.’s quick ratio was 4.50, while its current ratio was 6.40, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 55.90% percent. Based on annual data, it had gross profit of $39.46 million and revenue of $73.39 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BFLY’s return on assets (ROA) during the last 12 months has been -37.50%. There was a -59.30% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -48.50%.
Earnings Surprise
According to Butterfly Network Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $17.92 million, while revenues fell by -7.25% to $15.48 million. It was predicted that Butterfly Network Inc.’s quarterly earnings would be -$0.14, but it ended up being -$0.16, beating the consensus by 12.50%. EBITDA was -$29.07 million for the quarter. At the end of Butterfly Network Inc.’s most recent quarter ended June 29, its liabilities totaled 86.88 million, while its total debt was $31.09 million. Equity owned by shareholders amounts to $206.63 million.
Technical Picture
Here’s a quick look at Butterfly Network Inc.’s (BFLY) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 42.90%, suggesting the stock is Neutral, with a 58.71% historical volatility rate.
The stochastic %K and %D were 27.91% and 19.02% respectively, while the average true range (ATR) was 0.1342. Based on the 14-day stochastic reading of 41.86%, the RSI (14) reading is 41.25%. On the 9-day MACD Oscillator, the stock is at -0.0278, and the 14-day reading is at -0.0764.
Analyst Ratings
In its analyst report released on March 29, 2023, UBS began covering Butterfly Network Inc. (NYSE: BFLY). The stock was rated as a Neutral by the brokerage firm. Analysts have assigned Butterfly Network Inc. (BFLY) an Overweight rating. BFLY is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.
What is BFLY’s price target for the next 12 months?
The current consensus forecast for the stock is between $2.25 and $4.00, with a median target price of $3.88. In analyzing these forecasts, the average price target given by analysts for Butterfly Network Inc. (BFLY) is $3.50.
