Butterfly Network, Inc. (NYSE:BFLY) Short Interest Update

Butterfly Network, Inc. (NYSE:BFLYGet Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 19,900,000 shares, an increase of 6.1% from the February 29th total of 18,750,000 shares. Currently, 13.3% of the shares of the company are sold short. Based on an average daily volume of 1,870,000 shares, the days-to-cover ratio is currently 10.6 days.

Butterfly Network Stock Up 3.0 %

Butterfly Network stock traded up $0.03 during midday trading on Wednesday, hitting $1.04. The company’s stock had a trading volume of 624,103 shares, compared to its average volume of 1,815,017. The stock’s 50-day moving average price is $1.07 and its 200-day moving average price is $1.05. The company has a market capitalization of $216.46 million, a PE ratio of -1.55 and a beta of 2.04. Butterfly Network has a 12 month low of $0.76 and a 12 month high of $2.90.

Butterfly Network (NYSE:BFLYGet Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). The business had revenue of $16.52 million during the quarter, compared to analyst estimates of $15.98 million. Butterfly Network had a negative net margin of 202.88% and a negative return on equity of 50.87%. As a group, equities analysts anticipate that Butterfly Network will post -0.45 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Andrei G. Stoica sold 35,612 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $1.02, for a total transaction of $36,324.24. Following the completion of the transaction, the chief technology officer now owns 978,286 shares of the company’s stock, valued at $997,851.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CTO Andrei G. Stoica sold 35,612 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1.02, for a total value of $36,324.24. Following the completion of the sale, the chief technology officer now owns 978,286 shares of the company’s stock, valued at $997,851.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Heather C. Getz sold 66,142 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $1.02, for a total transaction of $67,464.84. Following the completion of the sale, the chief financial officer now directly owns 1,517,236 shares of the company’s stock, valued at approximately $1,547,580.72. The disclosure for this sale can be found here. Insiders sold a total of 105,052 shares of company stock valued at $107,153 over the last 90 days. 27.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Butterfly Network

A number of large investors have recently added to or reduced their stakes in BFLY. Renaissance Technologies LLC bought a new stake in Butterfly Network during the first quarter worth approximately $5,883,000. ARK Investment Management LLC lifted its holdings in shares of Butterfly Network by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 13,688,534 shares of the company’s stock worth $14,784,000 after buying an additional 973,260 shares during the last quarter. BlackRock Inc. raised its stake in shares of Butterfly Network by 6.6% in the second quarter. BlackRock Inc. now owns 10,987,538 shares of the company’s stock valued at $25,271,000 after purchasing an additional 682,310 shares in the last quarter. State Street Corp raised its stake in shares of Butterfly Network by 10.7% in the second quarter. State Street Corp now owns 6,207,636 shares of the company’s stock valued at $14,278,000 after purchasing an additional 602,437 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Butterfly Network by 76.1% in the fourth quarter. Legal & General Group Plc now owns 1,346,909 shares of the company’s stock valued at $3,320,000 after purchasing an additional 581,953 shares in the last quarter. Institutional investors own 37.85% of the company’s stock.

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.

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