Butterfly Network Inc. [BFLY] Is Currently 1.48 below its 200 Period Moving Avg: What Does This Mean?

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Butterfly Network Inc. [NYSE: BFLY] gained 1.48% or 0.05 points to close at $3.42 with a heavy trading volume of 3820550 shares.

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It opened the trading session at $3.40, the shares rose to $3.45 and dropped to $3.131, the range by which the price of stock traded the whole day. The daily chart for BFLY points out that the company has recorded -67.37% loss over the past six months. However, it is still -3.64% lower than its most recent low trading price.

If we look at the average trading volume of 2.57M shares, BFLY reached to a volume of 3820550 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $12.00 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 2.50. 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 0.30, with the Price to Sales ratio for BFLY stock in the period of the last 12 months amounting to 11.87. The Price to Book ratio for the last quarter was 1.51.

Trading performance analysis for BFLY stock

Butterfly Network Inc. [BFLY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.12. With this latest performance, BFLY shares dropped by -28.15% in over the last four-week period, additionally sinking by -67.37% over the last 6 months – not to mention a drop of -74.15% 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 36.81, with the RSI for the last a single of trading hit 36.32, and the three-weeks RSI is set at 37.98 for Butterfly Network Inc. [BFLY]. The present Moving Average for the last 50 days of trading for this stock 4.41, while it was recorded at 3.47 for the last single week of trading, and 7.89 for the last 200 days.

Butterfly Network Inc. [BFLY]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Butterfly Network Inc. [BFLY] shares currently have an operating margin of -299.42 and a Gross Margin at +24.77. Butterfly Network Inc.’s Net Margin is presently recorded at -51.80.

Return on Equity for this stock declined to -9.14, with Return on Assets sitting at -6.57.

Butterfly Network Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.50 and a Current Ratio set at 10.30.

An analysis of insider ownership at Butterfly Network Inc. [BFLY]

There are presently around $315 million, or 55.40% of BFLY stock, in the hands of institutional investors. The top three institutional holders of BFLY stocks are: FMR LLC with ownership of 16,111,158, which is approximately 21.845% of the company’s market cap and around 3.90% of the total institutional ownership; VANGUARD GROUP INC, holding 13,179,593 shares of the stock with an approximate value of $44.41 million in BFLY stocks shares; and FOSUN INTERNATIONAL LTD, currently with $36.12 million in BFLY stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Butterfly Network Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 105 institutional holders increased their position in Butterfly Network Inc. [NYSE:BFLY] by around 10,474,858 shares. Additionally, 83 investors decreased positions by around 9,410,870 shares, while 41 investors held positions by with 73,604,388 shares. The mentioned changes placed institutional holdings at 93,490,116 shares, according to the latest SEC report filing. BFLY stock had 44 new institutional investments in for a total of 3,236,377 shares, while 38 institutional investors sold positions of 4,486,695 shares during the same period.