Now Is A Suitable Moment For A Long-Term Purchase Of Butterfly Network Inc (NYSE: BFLY)

Currently, there are 181.22M common shares owned by the public and among those 149.83M shares have been available to trade.

The company’s stock has a 5-day price change of 28.95% and 166.22% over the past three months. BFLY shares are trading 126.85% year to date (YTD), with the 12-month market performance up to 118.75% higher. It has a 12-month low price of $0.67 and touched a high of $2.20 over the same period. BFLY has an average intraday trading volume of 2.17 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 33.48%, 41.51%, and 106.84% respectively.

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Institutional ownership of Butterfly Network Inc (NYSE: BFLY) shares accounts for 27.14% of the company’s 181.22M shares outstanding.

It has a market capitalization of $522.01M and a beta (3y monthly) value of 2.16. The earnings-per-share (ttm) stands at -$0.47. Price movements for the stock have been influenced by the stock’s volatility, which stands at 15.61% over the week and 9.05% over the month.

Earnings per share for the fiscal year are expected to increase by 52.82%, and 3.26% over the next financial year.

Looking at the support for the BFLY, a number of firms have released research notes about the stock. Lake Street stated their Buy rating for the stock in a research note on September 10, 2024, with the firm’s price target at $3. UBS coverage for the Butterfly Network Inc (BFLY) stock in a research note released on March 29, 2023 offered a Neutral rating with a price target of $2.25. Oppenheimer was of a view on November 29, 2022 that the stock is Outperform, while B. Riley Securities gave the stock Buy rating on October 04, 2022, issuing a price target of $9.50. UBS on their part issued Neutral rating on December 17, 2021.

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