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

Butterfly Network, Inc. (NYSE:BFLYGet Free Report) was the recipient of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 21,620,000 shares, a decrease of 10.0% from the May 15th total of 24,020,000 shares. Based on an average daily trading volume, of 1,430,000 shares, the short-interest ratio is currently 15.1 days. Approximately 14.0% of the company’s stock are sold short.

Butterfly Network Price Performance

NYSE BFLY traded down $0.03 during trading hours on Tuesday, hitting $0.88. The company’s stock had a trading volume of 1,246,902 shares, compared to its average volume of 1,636,975. Butterfly Network has a 12 month low of $0.67 and a 12 month high of $2.71. The company’s 50 day simple moving average is $0.93 and its two-hundred day simple moving average is $1.01. The company has a market cap of $185.42 million, a P/E ratio of -1.52 and a beta of 2.18.

Butterfly Network (NYSE:BFLYGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. The firm had revenue of $17.66 million during the quarter, compared to analyst estimates of $17.13 million. Butterfly Network had a negative net margin of 179.09% and a negative return on equity of 47.83%. During the same period in the previous year, the business posted ($0.17) earnings per share. As a group, research analysts predict that Butterfly Network will post -0.42 earnings per share for the current fiscal year.

Insider Transactions at Butterfly Network

In related news, CFO Heather C. Getz sold 59,848 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $0.95, for a total transaction of $56,855.60. Following the completion of the sale, the chief financial officer now owns 2,699,469 shares of the company’s stock, valued at $2,564,495.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 76,678 shares of company stock worth $72,576. Corporate insiders own 27.28% of the company’s stock.

Hedge Funds Weigh In On Butterfly Network

Hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Advisors LLC purchased a new stake in Butterfly Network during the first quarter valued at $1,250,000. Levin Capital Strategies L.P. increased its position in shares of Butterfly Network by 93.3% during the 1st quarter. Levin Capital Strategies L.P. now owns 145,000 shares of the company’s stock valued at $157,000 after purchasing an additional 70,000 shares during the last quarter. Archon Capital Management LLC purchased a new stake in shares of Butterfly Network during the 1st quarter valued at about $352,000. Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of Butterfly Network by 42.9% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock worth $108,000 after purchasing an additional 30,000 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Butterfly Network by 2.9% in the first quarter. Vanguard Group Inc. now owns 7,885,238 shares of the company’s stock worth $8,516,000 after buying an additional 218,720 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.

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