Butterfly Network (NYSE:BFLY) Now Covered by Oppenheimer - ETF Daily News

Stock analysts at Oppenheimer began coverage on shares of Butterfly Network (NYSE:BFLY – Get Rating) in a report issued on Monday, The Fly reports. The brokerage set an “outperform” rating and a $4.50 price target on the stock. Oppenheimer’s target price points to a potential upside of 50.50% from the company’s previous close.

Separately, B. Riley initiated coverage on Butterfly Network in a research report on Tuesday, October 4th. They set a “buy” rating and a $9.50 target price on the stock.

Butterfly Network Trading Up 0.7 %

Butterfly Network stock opened at $2.99 on Monday. Butterfly Network has a 12 month low of $2.31 and a 12 month high of $8.72. The business’s 50 day simple moving average is $4.18 and its 200 day simple moving average is $4.72. The company has a market cap of $599.69 million, a price-to-earnings ratio of -3.99 and a beta of 1.93.

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Butterfly Network (NYSE:BFLY – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). Butterfly Network had a negative net margin of 204.70% and a negative return on equity of 37.78%. The firm had revenue of $19.62 million during the quarter, compared to analysts’ expectations of $21.40 million. As a group, equities research analysts forecast that Butterfly Network will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Darius Shahida sold 20,139 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $5.49, for a total value of $110,563.11. Following the transaction, the insider now owns 656,793 shares of the company’s stock, valued at $3,605,793.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 26,408 shares of company stock worth $142,539 over the last 90 days. Corporate insiders own 28.36% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Madison Asset Management LLC bought a new position in shares of Butterfly Network in the second quarter worth $31,000. Kestra Private Wealth Services LLC bought a new position in shares of Butterfly Network in the second quarter worth $31,000. Pathstone Family Office LLC bought a new position in shares of Butterfly Network in the third quarter worth $48,000. TownSquare Capital LLC bought a new position in Butterfly Network in the second quarter valued at $32,000. Finally, Tower Research Capital LLC TRC increased its stake in Butterfly Network by 177.1% in the third quarter. Tower Research Capital LLC TRC now owns 10,466 shares of the company’s stock valued at $49,000 after acquiring an additional 6,689 shares during the last quarter. Institutional investors own 49.29% of the company’s stock.

Butterfly Network Company Profile

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Butterfly Network, Inc, a digital health company, develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. It offers Butterfly iQ, a handheld and single-probe whole body ultrasound system; Butterfly iQ+, a point-of-care ultrasound imaging device that connects with a smartphone, tablet, and hospital computer system; and Butterfly Blueprint, a system-wide ultrasound platform with Compass software that integrates into a healthcare system's clinical and administrative infrastructure.

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