Butterfly Network Inc. [BFLY] Stock trading around $6.03 per share: What’s Next?

Butterfly Network Inc. [NYSE: BFLY] closed the trading session at $6.03 on 09/15/22. The day’s price range saw the stock hit a low of $5.84, while the highest price level was $6.16. The company report on August 8, 2022 that Butterfly Files Motion to Dismiss Claims in FUJIFILM Sonosite Legal Action.

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FUJIFILM Sonosite has failed to innovate and now attacks Butterfly’s next generation technology; Butterfly will defend itself vigorously against the allegations.

Butterfly Network, Inc. (NYSE: BFLY), a digital health company transforming care with handheld, whole-body ultrasound, today filed a motion to dismiss claims and specific patents from a complaint for patent infringement lawsuit filed on March 9, 2022, by FUJIFILM Sonosite Inc. Butterfly believes the lawsuit alleging infringement of U.S. Patent Nos. 7,169,108; 7,867,168; 8,128,050; 8,861,822; 9,538,985; 6,901,157; and 8,360,981, lacks merit and is meant to distract from FUJIFILM Sonosite’s failure to innovate and keep pace with Butterfly’s next generation clinical assessment platform.

The stocks have a year to date performance of -9.87 percent and weekly performance of -3.98 percent. The stock has been moved at 18.93 percent over the last six months. The stock has performed -23.48 percent around the most recent 30 days and changed 87.27 percent over the most recent 3-months.

If compared to the average trading volume of 2.63M shares, BFLY reached to a volume of 2727313 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 $7.00 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.

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 0.59, with the Price to Sales ratio for BFLY stock in the period of the last 12 months amounting to 17.27. The Price to Book ratio for the last quarter was 3.11.

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 -3.98. With this latest performance, BFLY shares dropped by -23.48% in over the last four-week period, additionally plugging by 18.93% over the last 6 months – not to mention a drop of -52.22% 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 51.05, with the RSI for the last a single of trading hit 48.80, and the three-weeks RSI is set at 52.68 for Butterfly Network Inc. [BFLY]. The present Moving Average for the last 50 days of trading for this stock 5.46, while it was recorded at 6.23 for the last single week of trading, and 4.99 for the last 200 days.

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

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 5.80 and a Current Ratio set at 6.80.

Butterfly Network Inc. [BFLY]: Insider Ownership positions

There are presently around $531 million, or 51.60% of BFLY stock, in the hands of institutional investors. The top three institutional holders of BFLY stocks are: FMR LLC with ownership of 13,169,769, which is approximately -0.077% of the company’s market cap and around 5.10% of the total institutional ownership; VANGUARD GROUP INC, holding 12,711,133 shares of the stock with an approximate value of $76.65 million in BFLY stocks shares; and FOSUN INTERNATIONAL LTD, currently with $64.62 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 August and at the time of the August reporting period, where 76 institutional holders increased their position in Butterfly Network Inc. [NYSE:BFLY] by around 3,212,866 shares. Additionally, 86 investors decreased positions by around 6,049,252 shares, while 55 investors held positions by with 78,722,508 shares. The mentioned changes placed institutional holdings at 87,984,626 shares, according to the latest SEC report filing. BFLY stock had 25 new institutional investments in for a total of 805,755 shares, while 33 institutional investors sold positions of 2,218,134 shares during the same period.


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