Butterfly Network Inc. [BFLY] Is Currently -8.06 below its 200 Period Moving Avg: What Does This Mean?


Butterfly Network Inc. [NYSE: BFLY] stock went on a downward path that fall over -8.06% on Wednesday, amounting to a one-week price decrease of less than -12.82%. The company report on December 16, 2021 that Butterfly Network to Present at the 40th Annual J.P. Morgan Healthcare Conference.

Butterfly Network, Inc. (NYSE: BFLY) (“Butterfly”), today announced that it will participate in the 40th Annual J.P. Morgan Healthcare Conference to be held virtually on January 10-13, 2022. Dr. Todd Fruchterman, President and CEO will present virtually on Tuesday, January 11, 2022, at 2:15 pm Eastern Time.

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A live webcast of the presentation and an archived recording will be available in the Events & Presentations section of the Butterfly Network investor website.

Over the last 12 months, BFLY stock dropped by -68.35%. The one-year Butterfly Network Inc. stock forecast points to a potential upside of 32.74. The average equity rating for BFLY stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.22 billion, with 196.09 million shares outstanding. Compared to the average trading volume of 2.84M shares, BFLY stock reached a trading volume of 3150364 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BFLY shares is $9.50 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.

UBS have made an estimate for Butterfly Network Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 17, 2021. While these analysts kept the previous recommendation, Cowen raised their target price to Outperform. The new note on the price target was released on June 21, 2021, representing the official price target for Butterfly Network Inc. stock.

The Average True Range (ATR) for Butterfly Network Inc. is set at 0.50, with the Price to Sales ratio for BFLY stock in the period of the last 12 months amounting to 27.93. The Price to Book ratio for the last quarter was 2.78, with the Price to Cash per share for the same quarter was set at 2.46.

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 -12.82. With this latest performance, BFLY shares dropped by -10.13% in over the last four-week period, additionally sinking by -55.87% over the last 6 months – not to mention a drop of -68.35% 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 36.64, with the RSI for the last a single of trading hit 34.25, and the three-weeks RSI is set at 37.58 for Butterfly Network Inc. [BFLY]. The present Moving Average for the last 50 days of trading for this stock 8.41, while it was recorded at 6.96 for the last single week of trading, and 11.69 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 11.50 and a Current Ratio set at 12.00.

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Butterfly Network Inc. [BFLY] Insider Position Details

There are presently around $639 million, or 54.40% of BFLY stock, in the hands of institutional investors. The top three institutional holders of BFLY stocks are: FMR LLC with ownership of 13,222,630, which is approximately 7.239% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 12,738,264 shares of the stock with an approximate value of $88.53 million in BFLY stocks shares; and BLACKROCK INC., currently with $77.44 million in BFLY stock with ownership of nearly 102.916% of the company’s market capitalization.

Positions in Butterfly Network Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 102 institutional holders increased their position in Butterfly Network Inc. [NYSE:BFLY] by around 18,915,364 shares. Additionally, 64 investors decreased positions by around 6,217,319 shares, while 46 investors held positions by with 66,873,554 shares. The mentioned changes placed institutional holdings at 92,006,237 shares, according to the latest SEC report filing. BFLY stock had 37 new institutional investments in for a total of 1,387,193 shares, while 34 institutional investors sold positions of 3,790,736 shares during the same period.