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 $3,034 were sold by Stoica Andrei G on Oct 01 ’24. At $1.79 per share, Stoica Andrei G sold 1,696 shares. The insider’s holdings dropped to 1,465,534 shares worth approximately $4.87 million following the completion of this transaction.
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Also, Stoica Andrei G purchased 1,696 shares, netting a total of over 3,034 in proceeds.
Before that, Stoica Andrei G had sold 3,296 shares from its account. In a trade valued at $5,735, the Chief Technology Officer traded Butterfly Network Inc shares for $1.74 each. Upon closing the transaction, the insider’s holdings decreased to 3,296 shares, worth approximately $4.87 million.
As published in their initiating research note from Lake Street on September 10, 2024, Butterfly Network Inc [BFLY] has been a Buy and the price target has been revised to $3. Analysts at UBS started covering the stock with ‘”a Neutral”‘ outlook in a report released in late March. As of November 29, 2022, Oppenheimer has initiated its “an Outperform” rating for BFLY. Earlier on October 04, 2022, B. Riley Securities initiated its rating. Their recommendation was “a Buy” for BFLY stock.
Analyzing BFLY Stock Performance
During the last five days, there has been a surge of approximately 24.81%. Over the course of the year, Butterfly Network Inc shares have jumped approximately 207.41%. Shares of the company reached a 52-week high of $3.37 on 11/20/24 and a 52-week low of $0.67 on 04/25/24. A 50-day SMA is recorded $2.01, while a 200-day SMA reached $1.28. Nevertheless, trading volume fell to 5.22 million shares from 5.59 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 2.96, which, if violated, would cause prices to drop to 2.59. In the upper region, resistance lies at 3.53. The next price resistance is at 3.73. RSI (Relative Strength Index) is 75.56 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.42, which suggests the price will decrease in the coming days. Percent R is at 2.99%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
