Butterfly Network Inc (NYSE:BFLY) shares, rose in value, with the stock price down by -0.31% to the previous day’s close as strong demand from buyers drove the stock to $0.70.
Actively observing the price movement in the last trading, the stock closed the session at $0.71. Referring to stock’s 52-week performance, its high was $2.71, and the low was $0.70. On the whole, BFLY has fluctuated by -29.52% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 72.85M, with a low estimate of 16.5M and a high estimate of 17.1M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 16.8M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. 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 Hold 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 -23.76% and -32.52% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 29.45, while the 7-day volatility ratio is showing 9.74% which for the 30-day chart, stands at 7.26%. Furthermore, Butterfly Network Inc (BFLY)’s beta value is 2.13, and its average true range (ATR) is 0.07.
A comparison of Butterfly Network Inc (BFLY) with its peers suggests the former has fared considerably weaker in the market. BFLY showed an intraday change of -0.31% in last session, and over the past year, it shrunk by -67.67%%.
Data on historical trading for Butterfly Network Inc (NYSE:BFLY) indicates that the trading volumes over the past 3 months, they’ve averaged 1.70 million. According to company’s latest data on outstanding shares, there are 181.22 million shares outstanding.
Nearly 29.71% of Butterfly Network Inc’s shares belong to company insiders and institutional investors own 31.21% of the company’s shares. The stock has fallen by -34.74% 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.
