In the last trading session, 1.42 million Butterfly Network Inc (NYSE:BFLY) shares changed hands as the company’s beta touched 2.04. With the company’s per share price at $1.02 changed hands at -$0.04 or -3.77% during last session, the market valuation stood at $212.29M. BFLY’s last price was a discount, traded about -184.31% off its 52-week high of $2.90. The share price had its 52-week low at $0.76, which suggests the last value was 25.49% up since then. When we look at Butterfly Network Inc’s average trading volume, we note the 10-day average is 1.35 million shares, with the 3-month average coming to 1.91 million.
Butterfly Network Inc (NYSE:BFLY) trade information
Instantly BFLY was in red as seen at the end of in last trading. With action -4.67%, the performance over the past five days has been red. The drop to weekly highs of 1.1500 subtracted -3.77% to the stock’s daily price. The company’s shares are showing year-to-date downside of -5.56%, with the 5-day performance at -4.67% in the red. However, in the 30-day time frame, Butterfly Network Inc (NYSE:BFLY) is 3.52% up. Looking at the short shares, we see there were 18.75 million shares sold at short interest cover period of 8.58 days.
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 -16.39% over the past 6 months, a 30.77% in annual growth rate that is considerably higher than the industry average of 20.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Butterfly Network Inc will rise 29.40%, while the growth in revenue is estimated to hit 21.40% for the next quarter. Year-over-year growth is forecast to reach 10.50% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $16.8 million. 2 analysts are of the opinion that Butterfly Network Inc’s revenue for the quarter ending Jun 2024 will be $19.05 million. The company’s revenue for the corresponding quarters a year ago was $15.48 million and $18.49 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 8.60%. The estimates for the next quarter sales put growth at 3.00%.
The 2024 estimates are for Butterfly Network Inc earnings to increase by 30.77%.
BFLY Dividends
Butterfly Network Inc is expected to release its next quarterly earnings report between May 09 and May 13.
Butterfly Network Inc (NYSE:BFLY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 12.34% of Butterfly Network Inc shares while 43.27% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 49.36%. There are 43.27% institutions holding the Butterfly Network Inc stock share, with ARK Investment Management, LLC the top institutional holder. As of Dec 30, 2023, the company held 7.53% of the shares, roughly 13.69 million BFLY shares worth $13.96 million.
Fosun International Ltd holds the second largest percentage of outstanding shares, with 5.90% or 10.72 million shares worth $10.93 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Jan 30, 2024 were ARK ETF Tr-ARK Genomic Revolution ETF and Vanguard Total Stock Market Index Fund. With 11.62 million shares estimated at $11.85 million under it, the former controlled 6.40% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.26% of the shares, roughly 4.11 million shares worth around $4.2 million.
