Butterfly Network Inc [NYSE: BFLY] stock went on an upward path that rose over 20.79% on Monday, amounting to a one-week price increase of more than 12.96%. The company report on January 8, 2024 at 8:05 AM that Butterfly Network Announces FDA Clearance of its Next-Generation Handheld Ultrasound System, Butterfly iQ3.
Butterfly iQ3 brings unparalleled image quality and new digital imaging modes, iQ Slice and iQ Fan, powered by advanced semiconductor technology for easier, automated image acquisition.
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Butterfly Network, Inc. (“Butterfly”) (NYSE: BFLY), a digital health company transforming care through the power of portable, semiconductor-based ultrasound technology and intuitive software, today announced the FDA clearance of its next-generation handheld point-of-care ultrasound (POCUS) system, Butterfly iQ3. The new device is the company’s third iteration of the world’s first semiconductor-based single-probe, whole-body ultrasound system. Butterfly iQ3 features a brand-new ergonomic design and will deliver double the data processing speed for optimized image resolution, sensitivity and penetration, as well as faster 3D capabilities to power novel, automated image capture modes: iQ Slice and iQ Fan.
Over the last 12 months, BFLY stock dropped by -46.49%. The one-year Butterfly Network Inc stock forecast points to a potential upside of 54.31. The average equity rating for BFLY stock is currently 1.67, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $252.69 million, with 174.46 million shares outstanding and 149.55 million shares in the current float. Compared to the average trading volume of 1.98M shares, BFLY stock reached a trading volume of 6159052 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 $2.67 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 1.67. 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 March 29, 2023.
The Average True Range (ATR) for Butterfly Network Inc is set at 0.11, with the Price to Sales ratio for BFLY stock in the period of the last 12 months amounting to 3.70. The Price to Book ratio for the last quarter was 0.98, with the Price to Cash per share for the same quarter was set at 0.73.
BFLY Stock Performance Analysis:
Butterfly Network Inc [BFLY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.96. With this latest performance, BFLY shares gained by 25.79% in over the last four-week period, additionally sinking by -46.02% over the last 6 months – not to mention a drop of -46.49% 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 62.44, with the RSI for the last a single of trading hit 67.80, and the three-weeks RSI is set at 58.30 for Butterfly Network Inc [BFLY]. The present Moving Average for the last 50 days of trading for this stock 1.0065, while it was recorded at 1.0660 for the last single week of trading, and 1.7043 for the last 200 days.
Insight into Butterfly Network Inc Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Butterfly Network Inc [BFLY] shares currently have an operating margin of -260.57 and a Gross Margin at +53.77. Butterfly Network Inc’s Net Margin is presently recorded at -229.90.
Return on Total Capital for BFLY is now -45.86, given the latest momentum, and Return on Invested Capital for the company is -40.62. Return on Equity for this stock declined to -43.65, with Return on Assets sitting at -34.10. When it comes to the capital structure of this company, Butterfly Network Inc [BFLY] has a Total Debt to Total Equity ratio set at 9.80. Additionally, BFLY Total Debt to Total Capital is recorded at 8.93, with Total Debt to Total Assets ending up at 7.64. Long-Term Debt to Equity for the company is recorded at 9.21, with the Long-Term Debt to Total Capital now at 8.39.
Reflecting on the efficiency of the workforce at the company, Butterfly Network Inc [BFLY] managed to generate an average of -$511,282 per employee. Receivables Turnover for the company is 5.51 with a Total Asset Turnover recorded at a value of 0.15.Butterfly Network Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.79 and a Current Ratio set at 5.92.
Butterfly Network Inc [BFLY] Institutonal Ownership Details
The top three institutional holders of BFLY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BFLY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BFLY stock with ownership which is approximately 5.8325%.
