Cowen slashes price target on Butterfly Network Inc. [BFLY] – find out why.

Butterfly Network Inc. [NYSE: BFLY] closed the trading session at $12.37 on 09/14/21. The day’s price range saw the stock hit a low of $12.26, while the highest price level was $13.02. The company report on September 10, 2021 that Butterfly Network Announces Key Appointments to the Board and Management.

Dr. Erica Schwartz joins Butterfly’s Board of Directors.

Troy Quander joins Butterfly as Senior Vice President, Regulatory and Quality.

The stocks have a year to date performance of -37.49 percent and weekly performance of -6.64 percent. The stock has been moved at -27.11 percent over the last six months. The stock has performed 15.39 percent around the most recent 30 days and changed -8.91 percent over the most recent 3-months.

If compared to the average trading volume of 2.67M shares, BFLY reached to a volume of 4382093 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Butterfly Network Inc. [BFLY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BFLY shares is $20.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BFLY stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.66, with the Price to Sales ratio for BFLY stock in the period of the last 12 months amounting to 81.43. The Price to Book ratio for the last quarter was 5.33, with the Price to Cash per share for the same quarter was set at 2.67.

BFLY stock trade performance evaluation

Butterfly Network Inc. [BFLY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.64. With this latest performance, BFLY shares gained by 15.39% in over the last four-week period, additionally sinking by -27.11% over the last 6 months – not to mention a rise of 26.48% in the past year of trading.

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 54.26, with the RSI for the last a single of trading hit 52.65, and the three-weeks RSI is set at 53.35 for Butterfly Network Inc. [BFLY]. The present Moving Average for the last 50 days of trading for this stock 11.47, while it was recorded at 12.56 for the last single week of trading, and 15.31 for the last 200 days.

Butterfly Network Inc. [BFLY]: An insightful look at the core fundamentals

Butterfly Network Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.30 and a Current Ratio set at 10.10.

Butterfly Network Inc. [BFLY]: Insider Ownership positions

There are presently around $981 million, or 47.40% of BFLY stock, in the hands of institutional investors. The top three institutional holders of BFLY stocks are: FMR LLC with ownership of 12,330,066, which is approximately 17.551% of the company’s market cap and around 2.60% of the total institutional ownership; VANGUARD GROUP INC, holding 11,936,421 shares of the stock with an approximate value of $147.65 million in BFLY stocks shares; and FOSUN INTERNATIONAL LTD, currently with $132.56 million in BFLY stock with ownership of nearly 0% of the company’s market capitalization.

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122 institutional holders increased their position in Butterfly Network Inc. [NYSE:BFLY] by around 21,829,144 shares. Additionally, 59 investors decreased positions by around 8,414,382 shares, while 27 investors held positions by with 49,053,538 shares. The mentioned changes placed institutional holdings at 79,297,064 shares, according to the latest SEC report filing. BFLY stock had 74 new institutional investments in for a total of 6,934,087 shares, while 33 institutional investors sold positions of 2,609,169 shares during the same period.

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