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What Will Butterfly Network Inc. (NYSE: BFLY) Be Like After It Drops -287.56% From Its Highs?

During the last session, Butterfly Network Inc. (NYSE:BFLY)’s traded shares were 1.81 million. At the end of the trading day, the stock’s price was $2.25, reflecting an intraday loss of -1.75% or -$0.04. The 52-week high for the BFLY share is $8.72, that puts it down -287.56 from that peak though still a striking 28.0% gain since the share price plummeted to a 52-week low of $1.62. The company’s market capitalization is $458.80M, and the average intraday trading volume over the past 10 days was 2.45 million shares, and the average trade volume was 3.17 million shares over the past three months.

Butterfly Network Inc. (BFLY) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.00. BFLY has a Sell rating from 0 analyst(s) out of 4 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 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 -$0.16.

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Butterfly Network Inc. (NYSE:BFLY) trade information

Butterfly Network Inc. (BFLY) registered a -1.75% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -1.75% in intraday trading to $2.25 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 14.80%, and it has moved by 3.21% in 30 days. Based on these gigs, the overall price performance for the year is -25.99%. The short interest in Butterfly Network Inc. (NYSE:BFLY) is 25.0 million shares and it means that shorts have 4.71 day(s) to cover.

The consensus price target of analysts on Wall Street is $4.44, which implies an increase of 49.32% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.25 and $6.00 respectively. As a result, BFLY is trading at a discount of -166.67% off the target high and 0.0% off the low.

Butterfly Network Inc. (BFLY) estimates and forecasts

Statistics show that Butterfly Network Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Butterfly Network Inc. (BFLY) shares have gone down -28.34% during the last six months, with a year-to-date growth rate more than the industry average at 21.43% against 10.70. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 11.10% this quarter and then jump 44.40% in the quarter after that. In the rating firms’ projections, revenue will increase 5.80% compared to the previous financial year.

Revenue for the current quarter is expected to be $18.01 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $21.31 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $19.21 million and $19.62 million respectively. In this case, analysts expect current quarter sales to shrink by -6.30% and then jump by 8.60% in the coming quarter.

While earnings are projected to return -352.80% in 2023.

BFLY Dividends

Butterfly Network Inc. is due to release its next quarterly earnings on May 11. 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 11.84% of total outstanding shares while institutional holders control 48.66%, with the float percentage being 55.19%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 260 institutions own stock in it. As of Mar 30, 2023, the company held over 12.28 million shares (or 6.92% of all shares), a total value of $27.62 million in shares.

The next largest institutional holding, with 10.72 million shares, is of Fosun International Ltd’s that is approximately 6.04% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $24.11 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 Vanguard Total Stock Market Index Fund. Data provided on Mar 30, 2023 indicates that ARK ETF Tr-ARK Genomic Revolution ETF owns about 9.37 million shares. This amounts to just over 5.29 percent of the company’s overall shares, with a $21.07 million market value. The same data shows that the other fund manager holds slightly less at 3.62 million, or about 2.04% of the stock, which is worth about $8.13 million.

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