As of Friday close, Butterfly Network Inc.’s (NYSE:BFLY) stock was down -$0.02, moving down -1.64 percent to $1.20. The average number of shares traded per day over the past five days has been 4,240,860 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.5000 fall in that time frame. In the last twenty days, the average volume was 2,640,295, while in the previous 50 days, it was 2,097,510.
Since last month, BFLY stock retreated -31.82%. Shares of the company fell to $1.1300 on 09/21/23, the lowest level in the past month. A 52-week high of $5.30 was reached on 02/02/23 after having rallying from a 52-week low of $1.13. Since the beginning of this year, BFLY’s stock price has dropped by -51.22% or -$1.2600, and marked a new high 5 times. However, the stock has declined by -77.34% since its 52-week high.
BFLY stock investors should be aware that Butterfly Network Inc. (BFLY) stock had its last reported insider trading activity 17 days ago on Sep 06. Stoica Andrei G, the Chief Technology Officer of the company, disposed of 11,674 shares for $1.86 on Sep 06. It resulted in a $21,679 divestment by the insider. DEVIVO JOSEPH added 10,000 shares at an average price of $1.81 on Aug 30. The insider now owns 4,010,000 shares following the transaction. On Jul 05, EVP & Chief Financial Officer Getz Heather C sold 65,577 shares at $2.19 apiece. The transaction was valued at $143,482.
Valuation Metrics
The stock’s beta is 1.85. Besides these, the trailing price-to-sales (P/S) ratio of 3.30, the price-to-book (PB) ratio of 0.77.
Financial Health
In the three months ended June 29, Butterfly Network Inc.’s quick ratio stood at 4.50, while its current ratio was 6.40, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 55.90% percent. Based on annual data, BFLY earned $39.46 million in gross profit and brought in $73.39 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -59.30%. Return on equity (ROE) for the past 12 months was -48.50%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. BFLY’s revenue fell -7.25% to $15.48 million during the quarter, while net income inched up to $17.92 million. While analysts expected Butterfly Network Inc. to report -$0.16 quarterly earnings, the actual figure was -$0.14 per share, beating the consensus estimate by 12.50%. During the quarter, the company generated -$29.07 million in EBITDA. The liabilities of Butterfly Network Inc. were 86.88 million at the end of its most recent quarter ended June 29, and its total debt was $31.09 million. The value of shareholders’ equity is $206.63 million.
Technical Picture
This quick technical analysis looks at Butterfly Network Inc.’s (BFLY) price momentum. With a historical volatility rate of 105.05%, the RSI 9-day stood at 21.06% on 22 September.
With respect to its five-day moving average, the current Butterfly Network Inc. price is down by -29.41% percent or -$0.5000. At present, BFLY shares trade -29.82% below its 20-day simple moving average and -41.75% percent below its 100-day simple moving average. However, the stock is currently trading approximately -49.37% below its SMA50 and -63.19% below its SMA200.
Stochastic coefficient K was 6.59% and Stochastic coefficient D was 7.75%, while ATR was 0.1645. Given the Stochastic reading of 8.75% for the 14-day period, the RSI (14) reading has been calculated as 25.44%. As of today, the MACD Oscillator reading stands at -0.2944, while the 14-day reading stands at -0.4317.
Analyst Ratings
UBS launched its rating on Butterfly Network Inc. (NYSE: BFLY) to a Neutral in a note to investors on March 29, 2023. Butterfly Network Inc. (BFLY) has been rated Overweight by analysts. According to 0 brokerage firms, BFLY is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Butterfly Network Inc. stock as buy, with 3 recommending it as overweight.
With a median target price of $3.88, the current consensus forecast for the stock is $2.25 – $4.00. Based on these forecasts, analysts predict Butterfly Network Inc. (BFLY) will achieve an average price target of $3.50.
