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What Will Butterfly Network Inc. (NYSE: BFLY) Be Like After It Jumps -129.05% From Its Highs?

During the last session, Butterfly Network Inc. (NYSE:BFLY)’s traded shares were 2.82 million. At the end of the trading day, the stock’s price was $5.92, reflecting an intraday gain of 4.59% or $0.26. The 52-week high for the BFLY share is $13.56, that puts it down -129.05 from that peak though still a striking 60.98% gain since the share price plummeted to a 52-week low of $2.31. The company’s market capitalization is $1.16B, and the average intraday trading volume over the past 10 days was 1.89 million shares, and the average trade volume was 2.19 million shares over the past three months.

Butterfly Network Inc. (BFLY) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. BFLY has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.27.

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Butterfly Network Inc. (NYSE:BFLY) trade information

Butterfly Network Inc. (BFLY) registered a 4.59% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.59% in intraday trading to $5.92 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 33.94%, and it has moved by 75.15% in 30 days. Based on these gigs, the overall price performance for the year is -41.79%. The short interest in Butterfly Network Inc. (NYSE:BFLY) is 23.88 million shares and it means that shorts have 12.36 day(s) to cover.

The consensus price target of analysts on Wall Street is $7.00, which implies an increase of 15.43% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7.00 and $7.00 respectively. As a result, BFLY is trading at a discount of -18.24% off the target high and -18.24% off the low.

Butterfly Network Inc. (BFLY) estimates and forecasts

Statistics show that Butterfly Network Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Butterfly Network Inc. (BFLY) shares have gone up 1.54% during the last six months, with a year-to-date growth rate less than the industry average at -38.27% against -0.80. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -1,250.00% this quarter and then drop -328.60% in the quarter after that. In the rating firms’ projections, revenue will increase 32.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $19.1 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $21.5 million by the end of Sep 2022.

While earnings are projected to return 92.80% in 2022.

BFLY Dividends

Butterfly Network Inc. is due to release its next quarterly earnings between March 28 and April 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Butterfly Network Inc. (NYSE:BFLY)’s Major holders

Butterfly Network Inc. insiders own 16.56% of total outstanding shares while institutional holders control 53.27%, with the float percentage being 63.84%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 252 institutions own stock in it. As of Mar 30, 2022, the company held over 13.22 million shares (or 7.70% of all shares), a total value of $62.91 million in shares.

The next largest institutional holding, with 13.18 million shares, is of FMR, LLC’s that is approximately 7.67% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $62.74 million.

Also, the Mutual Funds coming in first place with the largest holdings of Butterfly Network Inc. (BFLY) shares are ARK ETF Tr-ARK Genomic Revolution ETF and Fidelity Mid-Cap Stock Fund. Data provided on Jun 29, 2022 indicates that ARK ETF Tr-ARK Genomic Revolution ETF owns about 6.91 million shares. This amounts to just over 4.02 percent of the company’s overall shares, with a $21.2 million market value. The same data shows that the other fund manager holds slightly less at 6.3 million, or about 3.67% of the stock, which is worth about $19.2 million.

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