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Butterfly Network Inc. (NYSE:BFLY) Shares Are Down -12.29 Percent In A Week – But Can The Gains Continue?

In last trading session, Butterfly Network Inc. (NYSE:BFLY) saw 2.03 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $5.21 trading at -$0.19 or -3.52% at ring of the bell on the day assigns it a market valuation of $1.11B. That closing price of BFLY’s stock is at a discount of -130.71% from its 52-week high price of $12.02 and is indicating a premium of 55.66% from its 52-week low price of $2.31. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.55 million shares which gives us an average trading volume of 2.68 million if we extend that period to 3-months.

For Butterfly Network Inc. (BFLY), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 1 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.27 in the current quarter.

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Butterfly Network Inc. (NYSE:BFLY) trade information

Upright in the red during last session for losing -3.52%, in the last five days BFLY remained trading in the red while hitting it’s week-highest on Thursday, 09/15/22 when the stock touched $5.21 price level, adding 15.42% to its value on the day. Butterfly Network Inc.’s shares saw a change of -22.12% in year-to-date performance and have moved -12.29% in past 5-day. Butterfly Network Inc. (NYSE:BFLY) showed a performance of 0.00% in past 30-days. Number of shares sold short was 22.14 million shares which calculate 5.84 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $7.00 to the stock, which implies a rise of 25.57% to its current value. Analysts have been projecting $7.00 as a low price target for the stock while placing it at a high target of $7.00. It follows that stock’s current price would drop -34.36% in reaching the projected high whereas dropping to the targeted low would mean a loss of -34.36% for stock’s current value.

Butterfly Network Inc. (BFLY) estimates and forecasts

Statistics highlight that Butterfly Network Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company added 2.16% of value to its shares in past 6 months, showing an annual growth rate of -9.88% while that of industry is -0.80. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -1,250.00% in the current quarter and calculating -328.60% decrease in the next quarter. This year revenue growth is estimated to rise 32.70% from the last financial year’s standing.

1 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $19.1 million for the same. And 1 analysts are in estimates of company making revenue of $21.5 million in the next quarter that will end on Sep 2022.

BFLY Dividends

Butterfly Network Inc. is more likely to be releasing its next quarterly report between March 28 and April 01 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 16.56% of company’s total shares while institution are holding 53.27 percent of that, with stock having share float percentage of 63.84%. Investors also watch the number of corporate investors in a company very closely, which is 53.27% institutions for Butterfly Network Inc. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at BFLY for having 13.22 million shares of worth $62.91 million. And as of Mar 30, 2022, it was holding 7.70% of the company’s outstanding shares.

The second largest institutional holder is FMR, LLC, which was holding about 13.18 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 7.67% of outstanding shares, having a total worth of $62.74 million.

On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF and Fidelity Mid-Cap Stock Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 6.91 million shares of worth $21.2 million or 4.02% of the total outstanding shares. The later fund manager was in possession of 6.3 million shares on May 30, 2022, making its stake of worth around $19.2 million in the company or a holder of 3.67% of company’s stock.

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