Butterfly Network Inc. [BFLY] is -62.48% lower this YTD. Is it still time to buy?

Butterfly Network Inc. [NYSE: BFLY] closed the trading session at $2.51 on 12/14/22. The day’s price range saw the stock hit a low of $2.45, while the highest price level was $2.71. The company report on December 14, 2022 that Butterfly Network to Present at the 41st Annual J.P. Morgan Healthcare Conference.

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Butterfly Network, Inc. (NYSE: BFLY) (“Butterfly”), a digital health company transforming care with handheld, whole-body ultrasound, today announced that it will participate in the 41st Annual J.P. Morgan Healthcare Conference taking place in San Francisco, California on January 9-12, 2023. Darius Shahida, Chief Strategy Officer & Chief Business Development Officer, and Heather Getz, Executive Vice President & Chief Financial Officer, will present on January 12, 2023 at 9:00 am Pacific Time at the Westin St. Francis Hotel, Elizabethan D conference room.

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

The stocks have a year to date performance of -62.48 percent and weekly performance of -10.36 percent. The stock has been moved at -22.05 percent over the last six months. The stock has performed -27.46 percent around the most recent 30 days and changed -58.37 percent over the most recent 3-months.

If compared to the average trading volume of 1.96M shares, BFLY reached to a volume of 6906665 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 $6.00 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 1.70. 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.

Oppenheimer have made an estimate for Butterfly Network Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 29, 2022. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on October 04, 2022, representing the official price target for Butterfly Network Inc. stock. Previously, the target price had yet another raise to $7, while UBS analysts kept a Neutral rating on BFLY stock.

The Average True Range (ATR) for Butterfly Network Inc. is set at 0.25, with the Price to Sales ratio for BFLY stock in the period of the last 12 months amounting to 7.11. The Price to Book ratio for the last quarter was 1.46, with the Price to Cash per share for the same quarter was set at 1.29.

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 -10.36. With this latest performance, BFLY shares dropped by -27.46% in over the last four-week period, additionally sinking by -22.05% over the last 6 months – not to mention a drop of -63.20% 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 29.30, with the RSI for the last a single of trading hit 24.16, and the three-weeks RSI is set at 32.89 for Butterfly Network Inc. [BFLY]. The present Moving Average for the last 50 days of trading for this stock 3.80, while it was recorded at 2.66 for the last single week of trading, and 4.27 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 6.90 and a Current Ratio set at 8.10.

Butterfly Network Inc. [BFLY]: Insider Ownership positions

There are presently around $223 million, or 51.80% of BFLY stock, in the hands of institutional investors. The top three institutional holders of BFLY stocks are: FMR LLC with ownership of 13,268,499, which is approximately 0.75% of the company’s market cap and around 2.50% of the total institutional ownership; VANGUARD GROUP INC, holding 11,502,751 shares of the stock with an approximate value of $28.87 million in BFLY stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $27.21 million in BFLY stock with ownership of nearly 52.815% 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 91 institutional holders increased their position in Butterfly Network Inc. [NYSE:BFLY] by around 7,501,696 shares. Additionally, 72 investors decreased positions by around 6,750,078 shares, while 57 investors held positions by with 74,727,897 shares. The mentioned changes placed institutional holdings at 88,979,671 shares, according to the latest SEC report filing. BFLY stock had 39 new institutional investments in for a total of 2,644,147 shares, while 20 institutional investors sold positions of 1,349,615 shares during the same period.


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