The Vanguard Group, Inc. has recently announced that it has increased stake in Butterfly Network Inc. (NYSE:BFLY) by 1.89%. After grabbing 12.09 million shares, the institutional investor is now in possession of 0.22 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 6.83% having worth around $26.12 million. Moreover, Glenview Capital Management LLC increased its share by 2.57 million to have a control over 8.03 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.12 million shares by acquiring 5.61 million shares or 3.17% of the stake.
Butterfly Network Inc. (BFLY) concluded trading on 05/24/23 at a closing price of $2.25, with 1.81 million shares of worth about $4.06 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -28.34% during that period and on Wednesday the price saw a loss of about -1.75%. Currently the company’s common shares owned by public are about 203.79M shares, out of which, 155.16M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 4 analysts are covering the BFLY stock and their offered price forecasts bring an average price target of $4.44. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $6.00 and could fall to a lowest price of $2.25. However, touching the estimated high of $6.00 would mean a gain of 62.5% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 26 times over the past 12 months. They bought 2,914,716 shares in 15 of the transactions. In 11 selling transactions, insiders dumped 118,454 shares.
ARK Genomic Revolution ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Butterfly Network Inc. ARK Genomic Revolution ETF is currently holding 12.7 million shares of worth totaling $27.43 million. The company recently came buying 0.0 shares which brought its stake up to 7.18% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 0.5 million shares, after which its hold over company’s outstanding shares expand to 2.32%, leaving 4.11 million shares with the mutual fund that have a worth of about $8.89 million. Vanguard Small Cap Index Fund, after selling 3.43 million shares, have now control over 1.94% of the stake in the company. It holds 834.0 shares of worth $7.4 million.
Butterfly Network Inc. (NYSE: BFLY) started trading at $2.26, below -$0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 2.2900, or with a loss of -1.75%. Stock saw a price change of 14.80% in past 5 days and over the past one month there was a price change of 3.21%. Year-to-date (YTD), BFLY shares are showing a performance of -8.54% which decreased to -25.99% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.62 but also hit the highest price of $8.72 during that period. The average intraday trading volume for Butterfly Network Inc. shares is 3.17 million. The stock is currently trading 10.57% above its 20-day simple moving average (SMA20), while that difference is up 6.05% for SMA50 and it goes to -34.14% lower than SMA200.
The Vanguard Group, Inc. acquired 12.09 million shares of Butterfly Network Inc. having value of about $26.12 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.22 million shares in the company valued at close to $505350.0, or have control over 1.89% stake in the company. Butterfly Network Inc. (NYSE: BFLY) currently have 203.79M outstanding shares and institutions hold larger chunk of about 51.80% of that. Holding of mutual funds in the company is about 22.91% while other institutional holders and individual stake holders have control over 25.98% and 11.53% of the stake respectively.
The stock has a current market capitalization of $458.80M. It has posted earnings per share of -$0.84 in the same period. It has Quick Ratio of 5.70 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BFLY, volatility over the week remained 8.33% while standing at 9.12% over the month.
Analysts are in expectations that Butterfly Network Inc. (BFLY) stock would likely to be making an EPS of -$0.16 in the current quarter, while forecast for next quarter EPS is -$0.15 and it is -$0.58 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.17 which is -$0.16 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.18 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -352.80% while it is estimated to increase by 7.90% in next year.
Analysts at 4 brokerage firms have issued recommendations for the Butterfly Network Inc. (BFLY)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 4 Wall Street analysts, 3 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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