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Butterfly Network Inc [BFLY] Records 50-Day SMA of $0.9563

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Butterfly Network Inc shares valued at $1,487 were sold by Stoica Andrei G on Jul 02 ’24. At $0.87 per share, Stoica Andrei G sold 1,703 shares. The insider’s holdings dropped to 1,480,738 shares worth approximately $1.44 million following the completion of this transaction.

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Also, Stoica Andrei G sold 3,363 shares, netting a total of over 3,107 in proceeds. Following the sale of shares at $0.92 each, the insider now holds 1,482,441 shares.

Before that, Stoica Andrei G had sold 11,754 shares from its account. In a trade valued at $10,602, the Chief Technology Officer traded Butterfly Network Inc shares for $0.90 each. Upon closing the transaction, the insider’s holdings decreased to 11,754 shares, worth approximately $1.44 million.

As published in their initiating research note from UBS on March 29, 2023, Butterfly Network Inc [BFLY] has been a Neutral and the price target has been revised to $2.25. Analysts at Oppenheimer started covering the stock with ‘”an Outperform”‘ outlook in a report released in late November. As of October 04, 2022, B. Riley Securities has initiated its “Buy” rating for BFLY. Earlier on December 17, 2021, UBS initiated its rating. Their recommendation was “a Neutral” for BFLY stock.

Analyzing BFLY Stock Performance

During the last five days, there has been a surge of approximately 2.79%. Over the course of the year, Butterfly Network Inc shares have dropped approximately -10.54%. Shares of the company reached a 52-week high of $1.6387 on 02/27/24 and a 52-week low of $0.6741 on 04/25/24. A 50-day SMA is recorded $0.9563, while a 200-day SMA reached $1.0023. Nevertheless, trading volume fell to 2.25 million shares from 1.45 million shares the previous day.

Support And Resistance Levels for Butterfly Network Inc (BFLY)

According to the 24-hour chart, there is a support level at 0.9275, which, if violated, would cause prices to drop to 0.8887. In the upper region, resistance lies at 1.0275. The next price resistance is at 1.0887. RSI (Relative Strength Index) is 51.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0639, which suggests the price will decrease in the coming days. Percent R is at 39.08%, indicating low price movement. Stochastics%K at selling indicates that the stock is to be held.

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