Butterfly Network (NYSE:BFLY) Shares Gap Up – Time to Buy?

Butterfly Network, Inc. ( NYSE:BFLY – Get Free Report ) gapped up before the market opened on Tuesday . The stock had previously closed at $3.

23, but opened at $3.33. Butterfly Network shares last traded at $3.



36, with a volume of 293,319 shares traded. Analyst Upgrades and Downgrades Separately, Lake Street Capital initiated coverage on shares of Butterfly Network in a research report on Tuesday, September 10th. They issued a “buy” rating and a $3.

00 price objective for the company. View Our Latest Analysis on BFLY Butterfly Network Stock Down 3.4 % Butterfly Network ( NYSE:BFLY – Get Free Report ) last posted its earnings results on Friday, November 1st.

The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.

01. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.

25%. The business had revenue of $20.56 million during the quarter, compared to analysts’ expectations of $19.

12 million. During the same period in the prior year, the business earned ($0.13) EPS.

On average, sell-side analysts predict that Butterfly Network, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Butterfly Network In other news, CFO Heather C. Getz sold 30,136 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $3.

06, for a total value of $92,216.16. Following the sale, the chief financial officer now owns 2,669,333 shares of the company’s stock, valued at $8,168,158.

98. The trade was a 1.12 % decrease in their ownership of the stock.

The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website . Also, insider Steve Cashman sold 164,079 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $3.

06, for a total transaction of $502,081.74. Following the completion of the transaction, the insider now directly owns 1,835,921 shares of the company’s stock, valued at approximately $5,617,918.

26. This trade represents a 8.20 % decrease in their position.

The disclosure for this sale can be found here . 27.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Butterfly Network Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Butterfly Network by 4.0% during the 3rd quarter.

Geode Capital Management LLC now owns 1,721,723 shares of the company’s stock worth $3,049,000 after purchasing an additional 65,425 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Butterfly Network by 3.

9% during the third quarter. Charles Schwab Investment Management Inc. now owns 955,331 shares of the company’s stock worth $1,691,000 after buying an additional 35,800 shares during the last quarter.

XTX Topco Ltd lifted its stake in Butterfly Network by 169.7% in the third quarter. XTX Topco Ltd now owns 360,392 shares of the company’s stock valued at $638,000 after acquiring an additional 226,781 shares during the last quarter.

Renaissance Technologies LLC grew its position in shares of Butterfly Network by 46.5% in the 2nd quarter. Renaissance Technologies LLC now owns 343,100 shares of the company’s stock valued at $288,000 after acquiring an additional 108,944 shares during the period.

Finally, Marshall Wace LLP increased its stake in shares of Butterfly Network by 353.7% during the 2nd quarter. Marshall Wace LLP now owns 318,383 shares of the company’s stock worth $267,000 after purchasing an additional 248,201 shares during the last quarter.

37.85% of the stock is owned by institutional investors. About Butterfly Network ( Get Free Report ) Butterfly Network, Inc 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+ and iQ3 ultrasound devices that can perform whole-body imaging in a single handheld probe integrated with the clinical workflow, and accessible on a user's smartphone, tablet, and almost any hospital computer system; and Butterfly iQ+ Vet, a handheld ultrasound system designed for veterinarians. Recommended Stories Receive News & Ratings for Butterfly Network Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Butterfly Network and related companies with MarketBeat.com's FREE daily email newsletter .

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