Butterfly Network Inc (BFLY) Shares Decline Despite Market Challenges

Butterfly Network Inc (NYSE: BFLY) has seen a decline in its stock price by -2.88 in relation to its previous close of 1.04. However, the company has experienced a -2.88% decline in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-05 that Here is how Butterfly Network, Inc. (BFLY) and BellRing Brands (BRBR) have performed compared to their sector so far this year.

Is It Worth Investing in Butterfly Network Inc (NYSE: BFLY) Right Now?

Moreover, the 36-month beta value for BFLY is 2.04. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for BFLY is 146.45M and currently, short sellers hold a 13.59% of that float. On April 03, 2024, BFLY’s average trading volume was 1.84M shares.

BFLY’s Market Performance

BFLY’s stock has seen a -2.88% decrease for the week, with a -22.31% drop in the past month and a -6.48% fall in the past quarter. The volatility ratio for the week is 5.27%, and the volatility levels for the past 30 days are at 8.30% for Butterfly Network Inc The simple moving average for the last 20 days is -7.85% for BFLY stock, with a simple moving average of -27.18% for the last 200 days.

Analysts’ Opinion of BFLY

Many brokerage firms have already submitted their reports for BFLY stocks, with UBS repeating the rating for BFLY by listing it as a “Neutral.” The predicted price for BFLY in the upcoming period, according to UBS is $2.25 based on the research report published on March 29, 2023 of the previous year 2023.

Oppenheimer, on the other hand, stated in their research note that they expect to see BFLY reach a price target of $4.50. The rating they have provided for BFLY stocks is “Outperform” according to the report published on November 29th, 2022.

B. Riley Securities gave a rating of “Buy” to BFLY, setting the target price at $9.50 in the report published on October 04th of the previous year.

BFLY Trading at -5.54% from the 50-Day Moving Average

After a stumble in the market that brought BFLY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -65.17% of loss for the given period.

Volatility was left at 8.30%, however, over the last 30 days, the volatility rate increased by 5.27%, as shares sank -17.89% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -4.72% lower at present.

During the last 5 trading sessions, BFLY fell by -2.88%, which changed the moving average for the period of 200-days by -55.11% in comparison to the 20-day moving average, which settled at $1.0850. In addition, Butterfly Network Inc saw -6.48% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at BFLY starting from Stoica Andrei G, who sale 3,298 shares at the price of $1.02 back on Mar 25 ’24. After this action, Stoica Andrei G now owns 1,499,336 shares of Butterfly Network Inc, valued at $3,380 using the latest closing price.

Getz Heather C, the EVP, CFO & COO of Butterfly Network Inc, sale 81,448 shares at $1.14 during a trade that took place back on Mar 11 ’24, which means that Getz Heather C is holding 1,435,788 shares at $92,851 based on the most recent closing price.

Stock Fundamentals for BFLY

Current profitability levels for the company are sitting at:

  • -2.2 for the present operating margin
  • 0.26 for the gross margin

The net margin for Butterfly Network Inc stands at -2.03. The total capital return value is set at -0.56. Equity return is now at value -49.03, with -37.04 for asset returns.

Based on Butterfly Network Inc (BFLY), the company’s capital structure generated 0.1 points at debt to capital in total, while cash flow to debt ratio is standing at -3.95. The debt to equity ratio resting at 0.11. The interest coverage ratio of the stock is 104.75.

Currently, EBITDA for the company is -116.87 million with net debt to EBITDA at 0.82. When we switch over and look at the enterprise to sales, we see a ratio of 1.53. The receivables turnover for the company is 4.91for trailing twelve months and the total asset turnover is 0.22. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.22.

Conclusion

To wrap up, the performance of Butterfly Network Inc (BFLY) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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