Butterfly Network, Inc. (NYSE:BFLY – Get Rating) saw an uptick in trading volume on Friday . 154,752 shares changed hands during mid-day trading, a decline of 92% from the previous session’s volume of 1,840,740 shares.The stock last traded at $3.80 and had previously closed at $3.71.
Analysts Set New Price Targets
Separately, B. Riley began coverage on shares of Butterfly Network in a report on Tuesday, October 4th. They issued a “buy” rating and a $9.50 target price on the stock.
Butterfly Network Price Performance
The firm’s 50-day moving average is $4.85 and its two-hundred day moving average is $4.70. The company has a market cap of $754.26 million, a P/E ratio of -5.04 and a beta of 1.93.
Insider Buying and Selling
In other Butterfly Network news, insider Darius Shahida sold 20,139 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $5.49, for a total transaction of $110,563.11. Following the transaction, the insider now owns 656,793 shares in the company, valued at $3,605,793.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 26,408 shares of company stock worth $142,539. Insiders own 42.11% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Madison Asset Management LLC purchased a new stake in shares of Butterfly Network during the second quarter valued at $31,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Butterfly Network during the second quarter valued at $31,000. TownSquare Capital LLC purchased a new stake in shares of Butterfly Network during the second quarter valued at $32,000. Creative Planning purchased a new stake in Butterfly Network in the second quarter worth about $33,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Butterfly Network in the second quarter worth about $43,000. Institutional investors own 49.29% of the company’s stock.
Butterfly Network Company Profile
Butterfly Network, Inc, a digital health company, develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. It offers Butterfly iQ, a handheld and single-probe whole body ultrasound system; Butterfly iQ+, a point-of-care ultrasound imaging device that connects with a smartphone, tablet, and hospital computer system; and Butterfly Blueprint, a system-wide ultrasound platform with Compass software that integrates into a healthcare system's clinical and administrative infrastructure.
- Get a free copy of the StockNews.com research report on Butterfly Network (BFLY)
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