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Potential Price Increase for Butterfly Network Inc (BFLY) After Recent Insider Activity


In a filing, Butterfly Network Inc revealed its Chief Technology Officer Stoica Andrei G unloaded Company’s shares for reported $1782.0 on Apr 02 ’24. In the deal valued at $1.00 per share,1,778 shares were sold. As a result of this transaction, Stoica Andrei G now holds 1,497,558 shares worth roughly $1.17 million.

Then, Stoica Andrei G sold 3,298 shares, generating $3,380 in total proceeds. Upon selling the shares at $1.02, the Chief Technology Officer now owns 1,499,336 shares.

Before that, Getz Heather C sold 81,448 shares. Butterfly Network Inc shares valued at $92,851 were divested by the EVP, CFO & COO at a price of $1.14 per share. As a result of the transaction, Getz Heather C now holds 1,435,788 shares, worth roughly $1.12 million.

UBS initiated its Butterfly Network Inc [BFLY] rating to a Neutral in a research note published on March 29, 2023; the price target was $2.25. A number of analysts have revised their coverage, including Oppenheimer’s analysts, who began to cover the stock in late November with a ‘”an Outperform”‘ rating. B. Riley Securities began covering BFLY with “Buy” recommendation on October 04, 2022. UBS started covering the stock on December 17, 2021. It rated BFLY as “a Neutral”.

Price Performance Review of BFLY

On Tuesday, Butterfly Network Inc [NYSE:BFLY] saw its stock fall -4.17% to $0.78. Over the last five days, the stock has gained 4.60%. Butterfly Network Inc shares have fallen nearly -28.14% since the year began. Nevertheless, the stocks have fallen -64.07% over the past one year. While a 52-week high of $2.71 was reached on 02/27/24, a 52-week low of $0.67 was recorded on 04/25/24. SMA at 50 days reached $1.0225, while 200 days put it at $1.2446. A total of 0.96 million shares were traded, compared to the trading of 1.2 million shares in the previous session.

Levels Of Support And Resistance For BFLY Stock

The 24-hour chart illustrates a support level at 0.7577, which if violated will result in even more drops to 0.7392. On the upside, there is a resistance level at 0.8019. A further resistance level may holdings at 0.8276. The Relative Strength Index (RSI) on the 14-day chart is 39.44, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0200, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.66%. Stochastics %K at 34.81% indicates the stock is a holding.

The most recent change occurred on June 21, 2021 when Cowen began covering the stock and recommended ‘”an Outperform”‘ rating along with a $20 price target.

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