Shares of Butterfly Network, Inc. (NASDAQ:BFLY – Get Rating) jumped 7.5% during Friday’s midday session. The stock traded as high as $3.16 and last traded at $3.16. 8,468 shares were traded during trading, down 100% from the average session volume of 1,987,168 shares. The stock previously closed at $2.94.
Separately, Cowen reduced its target price on Butterfly Network from $12.00 to $7.00 in a Wednesday, May 11 research report.
The company has a 50-day simple moving average of $3.39 and a 200-day simple moving average of $5.00.
Butterfly Network (NASDAQ:BFLY – Get Rating) last reported quarterly earnings data on Thursday, May 5. The company reported ($0.22) EPS for the quarter. The company had revenue of $15.57 million in the quarter. Butterfly Network had a negative net margin of 115.98% and a negative return on equity of 24.95%. In the same quarter of the previous year, the company had earned earnings per share of ($0.46). On average, stock analysts predict that Butterfly Network, Inc. will post -1.12 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Advisor Networks LLC increased its position in shares of Butterfly Network by 17.7% during the 3rd quarter. Cetera Advisor Networks LLC now owns 12,350 shares of the company worth $129,000 after purchasing an additional 1,856 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Butterfly Network by 0.6% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 359,670 shares in the company worth $2,431,000 after buying an additional 2,190 shares last quarter. Arizona State Retirement System increased its position in shares of Butterfly Network by 8.8% during the fourth quarter. Arizona State Retirement System now owns 29,308 shares of the company worth $196,000 after buying 2,363 additional shares last quarter. Principal Financial Group Inc. increased its stake in shares of Butterfly Network by 7.8% during the 4th quarter. Principal Financial Group Inc. now owns 41,286 shares of the company worth $276,000 after purchasing an additional 2,994 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Butterfly Network by 16.6% during the 4th quarter. ProShare Advisors LLC now owns 27,278 shares of the company worth $182,000 after purchasing 3,874 additional shares in the last quarter. 61.04% of the shares are currently held by institutional investors and hedge funds.
Butterfly Network Company Profile (NASDAQ: BFLY)
Butterfly Network, Inc, a digital health company, develops, manufactures and markets ultrasound imaging solutions in the United States and internationally. It offers Butterfly iQ, a portable, single-probe whole-body ultrasound system; Butterfly iQ+, a point-of-care ultrasound imaging device that connects to a smartphone, tablet and hospital computer system; and Butterfly Blueprint, a system-wide ultrasound platform with Compass software that integrates with the clinical and administrative infrastructure of a healthcare system.
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