BFLY stock rated a Neutral by UBS


Butterfly Network Inc.’s filing revealed that its President & CEO DEVIVO JOSEPH acquired Company’s shares for reported $18100.0 on Aug 30. In the deal valued at $1.81 per share,10,000 shares were bought. As a result of this transaction, DEVIVO JOSEPH now holds 4,010,000 shares worth roughly $ 7.58 million.

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Then, Getz Heather C sold 65,577 shares, generating $143,482 in total proceeds. Upon selling the shares at $2.19, the EVP & Chief Financial Officer now owns 1,383,378 shares.

Before that, Stoica Andrei G sold 45,633 shares. Butterfly Network Inc. shares valued at $99,845 were divested by the Chief Technology Officer at a price of $2.19 per share. As a result of the transaction, Stoica Andrei G now holds 1,040,802 shares, worth roughly $1.97 million.

UBS initiated its Butterfly Network Inc. [BFLY] rating to a Neutral in a research note published on Tuesday, March 29, 2023; the price target was $2.25. PT values the company’s stock at a premium of 16.0 to its Tuesday closing price.

Price Performance Review of BFLY

On Tuesday, Butterfly Network Inc. [NYSE:BFLY] saw its stock jump 1.61% to $1.89. On the same session, the stock had its day’s lowest price of $1.815, but rose to a high of $1.93. Over the last five days, the stock has gained 13.17%. Butterfly Network Inc. shares have fallen nearly -23.17% since the year began. Nevertheless, the stocks have fallen -68.07% over the past one year. While a 52-week high of $6.77 was reached on 02/02/23, a 52-week low of $1.62 was recorded on 08/29/23. SMA at 50 days reached $2.1238, while 200 days put it at $2.3273. A total of 1.48 million shares were traded, compared to the trading of 2.0 million shares in the previous session.

Levels Of Support And Resistance For BFLY Stock

The 24-hour chart illustrates a support level at 1.8267, which if violated will result in even more drops to 1.7633. On the upside, there is a resistance level at 1.9417. A further resistance level may holdings at 1.9933. The Relative Strength Index (RSI) on the 14-day chart is 47.42, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0493, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 35.71%. Stochastics %K at 59.52% indicates the stock is a holding.

How much short interest is there in Butterfly Network Inc.?

A steep rise in short interest was recorded in Butterfly Network Inc. stocks on Aug 14, 2023, growing by 1.62 million shares to a total of 25.45 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 23.83 million shares. There was a rise of 6.37%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 16.24% of the overall stock float, the days-to-cover ratio (short ratio) rose to 14.52.

Butterfly Network Inc. [BFLY] – Who Are The Largest Shareholders?

In filings from ARK Investment Management LLC, it is revealed that the company now owns 12,749,251 shares, or roughly 7.18% of the outstanding BFLY shares. In other words, the investor’s shares have risen by 3,302,875 from its previous 13-F filing of 9446376.0. Additionally, The Vanguard Group, Inc. increased 5.17% of its stake after which the total value it holdings stand at $32,683,070, while BlackRock Fund Advisors added 5.98% of its stake to hold $25.52 million in the firm. At present, Geode Capital Management LLC is holding 2,864,618 shares valued at $7.36 million. Legal & General Investment Manage owned 2,763,509 shares of the company at the time of its most recent 13F filing, worth $7.1 million.


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