The stock of Butterfly Network Inc (BFLY) has gone up by 22.18% for the week, with a 4.46% rise in the past month and a 21.69% rise in the past quarter. The volatility ratio for the week is 6.71%, and the volatility levels for the past 30 days are 8.02% for BFLY. The simple moving average for the past 20 days is 21.15% for BFLY’s stock, with a 16.75% simple moving average for the past 200 days.
Is It Worth Investing in Butterfly Network Inc (NYSE: BFLY) Right Now?
The 36-month beta value for BFLY is at 2.14. Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for BFLY is 150.02M, and currently, shorts hold a 9.57% of that float. The average trading volume for BFLY on September 03, 2024 was 1.64M shares.
BFLY) stock’s latest price update
Butterfly Network Inc (NYSE: BFLY)’s stock price has gone rise by 8.29 in comparison to its previous close of 1.09, however, the company has experienced a 22.18% increase in its stock price over the last five trading days. seekingalpha.com reported 2024-08-01 that Butterfly Network, Inc. (NYSE:BFLY ) Q2 2024 Earnings Conference Call August 1, 2024 5:00 PM ET Company Participants Heather Getz – Chief Financial and Operations Officer Joseph DeVivo – Chairman and CEO Conference Call Participants Josh Jennings – TD Cowen Suraj Kalia – Oppenheimer & Co. Operator Good evening. Thank you for attending the Butterfly Network Second Quarter 2024 Earnings Call.
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 16.08% 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 -42.14% of loss for the given period.
Volatility was left at 8.02%, however, over the last 30 days, the volatility rate increased by 6.71%, as shares surge +16.80% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +27.11% upper at present.
During the last 5 trading sessions, BFLY rose by +22.11%, which changed the moving average for the period of 200-days by -3.30% in comparison to the 20-day moving average, which settled at $0.9828. In addition, Butterfly Network Inc saw 9.30% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BFLY starting from ROBBINS LARRY, who purchase 1,246,950 shares at the price of $0.98 back on Aug 28 ’24. After this action, ROBBINS LARRY now owns 9,280,451 shares of Butterfly Network Inc, valued at $1,221,382 using the latest closing price.
ROBBINS LARRY, the Director of Butterfly Network Inc, purchase 429,919 shares at $1.07 during a trade that took place back on Aug 29 ’24, which means that ROBBINS LARRY is holding 9,710,370 shares at $461,991 based on the most recent closing price.
Stock Fundamentals for BFLY
Current profitability levels for the company are sitting at:
- -1.64 for the present operating margin
- 0.28 for the gross margin
The net margin for Butterfly Network Inc stands at -1.53. The total capital return value is set at -0.5. Equity return is now at value -46.17, with -34.17 for asset returns.
Based on Butterfly Network Inc (BFLY), the company’s capital structure generated 0.11 points at debt to capital in total, while cash flow to debt ratio is standing at -2.49. The debt to equity ratio resting at 0.12. The interest coverage ratio of the stock is -58.55.
Currently, EBITDA for the company is -116.87 million with net debt to EBITDA at 0.75. When we switch over and look at the enterprise to sales, we see a ratio of 2.41. The receivables turnover for the company is 4.41for trailing twelve months and the total asset turnover is 0.26. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.01.
Conclusion
In conclusion, Butterfly Network Inc (BFLY) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. 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.
