In the last trading session, 1.02 million Butterfly Network Inc (NYSE:BFLY) shares changed hands as the company’s beta touched 2.07. With the company’s per share price at $1.17 changed hands at $0.06 or 5.41% during last session, the market valuation stood at $242.33M. BFLY’s last price was a discount, traded about -202.56% off its 52-week high of $3.54. The share price had its 52-week low at $0.76, which suggests the last value was 35.04% up since then. When we look at Butterfly Network Inc’s average trading volume, we note the 10-day average is 1.94 million shares, with the 3-month average coming to 2.18 million.
Analysts gave the Butterfly Network Inc (BFLY) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.67. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended BFLY as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Butterfly Network Inc’s EPS for the current quarter is expected to be -$0.13.
Butterfly Network Inc (NYSE:BFLY) trade information
Instantly BFLY was in green as seen at the end of in last trading. With action 9.35%, the performance over the past five days has been green. The jump to weekly highs of 1.3200 on Friday, 11/17/23 added 5.41% to the stock’s daily price. The company’s shares are showing year-to-date downside of -52.44%, with the 5-day performance at 9.35% in the green. However, in the 30-day time frame, Butterfly Network Inc (NYSE:BFLY) is 46.49% up. Looking at the short shares, we see there were 17.97 million shares sold at short interest cover period of 8.52 days.
The consensus price target for the stock as assigned by Wall Street analysts is $2.67, meaning bulls need an upside of 56.18% from its current market value. According to analyst projections, BFLY’s forecast low is $1.25 with $3.75 as the target high. To hit the forecast high, the stock’s price needs a -220.51% plunge from its current level, while the stock would need to soar -6.84% for it to hit the projected low.
Butterfly Network Inc (BFLY) estimates and forecasts
Data shows that the Butterfly Network Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -39.06% over the past 6 months, a 33.33% in annual growth rate that is considerably higher than the industry average of 13.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Butterfly Network Inc will rise 23.50%, while the growth in revenue is estimated to hit 23.50% for the next quarter. Year-over-year growth is forecast to reach -12.10% down from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $15.14 million. 2 analysts are of the opinion that Butterfly Network Inc’s revenue for the quarter ending Mar 2024 will be $17.91 million. The company’s revenue for the corresponding quarters a year ago was $18.98 million and $15.48 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -20.20%. The estimates for the next quarter sales put growth at 15.70%.
The 2023 estimates are for Butterfly Network Inc earnings to increase by 34.48%.
Butterfly Network Inc is expected to release its next quarterly earnings report on November 02.
Butterfly Network Inc (NYSE:BFLY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 12.84% of Butterfly Network Inc shares while 45.98% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 52.75%. There are 45.98% institutions holding the Butterfly Network Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 7.20% of the shares, roughly 12.97 million BFLY shares worth $29.82 million.
ARK Investment Management, LLC holds the second largest percentage of outstanding shares, with 7.06% or 12.72 million shares worth $15.0 million as of Sep 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Genomic Revolution ETF and Vanguard Total Stock Market Index Fund. With 12.6 million shares estimated at $14.87 million under it, the former controlled 6.99% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.28% of the shares, roughly 4.11 million shares worth around $9.46 million.