Butterfly Network Inc. [BFLY] Stock trading around $12.75 per share: What’s Next?

Butterfly Network Inc. [NYSE: BFLY] stock went on a downward path that fall over -10.53% on Friday, amounting to a one-week price decrease of less than -11.27%. The company report on June 9, 2021 that Butterfly Network to Present at the Cowen 6th Annual FutureHealth Conference.

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Butterfly Network (NYSE: BFLY) (“Butterfly”), an innovative digital health company that is working to democratize medical imaging and contribute to the aspiration of global health equity, announced its participation in the Cowen 6th Annual FutureHealth Conference, a virtual event taking place June 16-17, 2021.

Dr. Todd Fruchterman, President and CEO, Stephanie Fielding, Chief Financial Officer, and Dr. John Martin, Chief Medical Officer, will participate in a fireside chat session titled “Handheld Point-of-Care Ultrasound” at 2:35 p.m. ET on Wednesday, June 16.

The one-year Butterfly Network Inc. stock forecast points to a potential upside of 15.0.

The market cap for the stock reached $2.73 billion, with 105.92 million shares outstanding. Compared to the average trading volume of 2.99M shares, BFLY stock reached a trading volume of 8396355 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Butterfly Network Inc. [BFLY]:

Cowen have made an estimate for Butterfly Network Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 21, 2021.

The Average True Range (ATR) for Butterfly Network Inc. is set at 0.91, with the Price to Sales ratio for BFLY stock in the period of the last 12 months amounting to 219.83. The Price to Book ratio for the last quarter was 3.09, with the Price to Cash per share for the same quarter was set at 2.55.

BFLY Stock Performance Analysis:

Butterfly Network Inc. [BFLY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.27. With this latest performance, BFLY shares gained by 0.63% in over the last four-week period, additionally sinking by -35.57% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BFLY stock in for the last two-week period is set at 42.15, with the RSI for the last a single of trading hit 35.21, and the three-weeks RSI is set at 44.67 for Butterfly Network Inc. [BFLY]. The present Moving Average for the last 50 days of trading for this stock 12.86, while it was recorded at 14.02 for the last single week of trading, and 15.00 for the last 200 days.

Insight into Butterfly Network Inc. Fundamentals:

Reflecting on the efficiency of the workforce at the company, Butterfly Network Inc. [BFLY] managed to generate an average of -$508,480 per employee.Butterfly Network Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.90 and a Current Ratio set at 11.60.

Butterfly Network Inc. [BFLY] Insider Position Details

There are presently around $840 million, or 40.00% of BFLY stock, in the hands of institutional investors. The top three institutional holders of BFLY stocks are: FOSUN INTERNATIONAL LTD with ownership of 10,716,630, which is approximately New of the company’s market cap and around 3.00% of the total institutional ownership; FMR LLC, holding 10,489,120 shares of the stock with an approximate value of $133.74 million in BFLY stocks shares; and VANGUARD GROUP INC, currently with $95.45 million in BFLY stock with ownership of nearly New of the company’s market capitalization.

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Positions in Butterfly Network Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 109 institutional holders increased their position in Butterfly Network Inc. [NYSE:BFLY] by around 56,817,780 shares. Additionally, 42 investors decreased positions by around 3,697,979 shares, while 9 investors held positions by with 5,341,205 shares. The mentioned changes placed institutional holdings at 65,856,964 shares, according to the latest SEC report filing. BFLY stock had 72 new institutional investments in for a total of 49,989,805 shares, while 28 institutional investors sold positions of 2,368,600 shares during the same period.

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