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Butterfly Network Inc. (NYSE: BFLY): Making Its Way Up The Stock Market

Butterfly Network Inc. (NYSE:BFLY) shares, rose in value on Thursday, 05/12/22, with the stock price up by 9.43% to the previous day’s close as strong demand from buyers drove the stock to $2.67.

Actively observing the price movement in the last trading, the stock closed the session at $2.44, falling within a range of $2.31 and $2.79. Referring to stock’s 52-week performance, its high was $15.65, and the low was $2.43. On the whole, BFLY has fluctuated by -35.66% over the past month.

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With the market capitalization of Butterfly Network Inc. currently standing at about $568.55 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 28, 2022 – Apr 01, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.26, which is expected to increase to $0 for fiscal year -$0.37 and then to about -$0.61 by fiscal year 2022.

Analysts have estimated the company’s revenue for the quarter at $17 million, with a low estimate of $16.5 million and a high estimate of $17.5 million.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BFLY’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BFLY currently trading nearly -24.14% and -35.82% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.16, while the 7-day volatility ratio is showing 12.10% which for the 30-day chart, stands at 9.64%. Furthermore, Butterfly Network Inc. (BFLY)’s average true range (ATR) is 0.33.

Data on historical trading for Butterfly Network Inc. (NYSE:BFLY) indicates that the trading volumes over the past 3 months, they’ve averaged 2.69 million. According to company’s latest data on outstanding shares, there are 198.27 million shares outstanding.

Nearly 3.90% of Butterfly Network Inc.’s shares belong to company insiders and institutional investors own 55.10% of the company’s shares. The stock has fallen by -60.09% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BFLY stock heading into the next quarter.

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