Shares of Butterfly Network, Inc. (NYSE:BFLY – Get Free Report) traded up 11.9% on Thursday . The company traded as high as $4.81 and last traded at $4.9120. 750,189 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 5,477,977 shares. The stock had previously closed at $4.39.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Butterfly Network in a report on Wednesday, May 6th. Loop Capital set a $5.50 price objective on shares of Butterfly Network in a research note on Monday, March 2nd. TD Cowen lifted their price objective on shares of Butterfly Network from $4.50 to $6.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Zacks Research raised shares of Butterfly Network from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.56.
Get Our Latest Report on Butterfly Network
Butterfly Network Stock Up 16.7%
Butterfly Network (NYSE:BFLY – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $26.53 million during the quarter, compared to analyst estimates of $26.08 million. Butterfly Network had a negative net margin of 73.63% and a negative return on equity of 34.41%. As a group, sell-side analysts predict that Butterfly Network, Inc. will post -0.18 EPS for the current fiscal year.
Institutional Trading of Butterfly Network
Institutional investors and hedge funds have recently made changes to their positions in the business. KBC Group NV bought a new stake in shares of Butterfly Network during the first quarter worth $25,000. Ameriprise Financial Inc. bought a new stake in shares of Butterfly Network during the third quarter worth $25,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Butterfly Network during the third quarter worth $32,000. BNP Paribas Financial Markets lifted its position in shares of Butterfly Network by 707.2% during the second quarter. BNP Paribas Financial Markets now owns 16,258 shares of the company’s stock worth $33,000 after purchasing an additional 14,244 shares during the last quarter. Finally, Wisconsin Wealth Advisors LLC bought a new stake in shares of Butterfly Network during the fourth quarter worth $38,000. 37.85% of the stock is currently owned by institutional investors.
About Butterfly Network
Butterfly Network, Inc is a medical technology company focused on democratizing access to diagnostic imaging through its proprietary ultrasound-on-chip platform. The company’s flagship device, the Butterfly iQ, leverages semiconductor technology to deliver whole-body ultrasound imaging in a handheld form factor. This portable system connects to a compatible smart device, enabling point-of-care scanning across a variety of clinical settings.
Beyond its hardware offering, Butterfly Network provides a cloud-based software suite that supports image storage, analysis and remote collaboration.
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