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

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

Butterfly Network Price Performance

Butterfly Network stock opened at $1.04 on Thursday. The firm has a market capitalization of $215.42 million, a P/E ratio of -1.59 and a beta of 2.04. The stock has a fifty day moving average price of $1.07 and a two-hundred day moving average price of $1.05. Butterfly Network has a 52-week low of $0.76 and a 52-week high of $2.90.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wexford Capital LP acquired a new stake in Butterfly Network during the 4th quarter valued at $25,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Butterfly Network in the fourth quarter valued at $26,000. Tower Research Capital LLC TRC increased its stake in shares of Butterfly Network by 421.4% in the third quarter. Tower Research Capital LLC TRC now owns 21,935 shares of the company’s stock valued at $26,000 after buying an additional 17,728 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Butterfly Network in the fourth quarter valued at about $28,000. Finally, Creative Planning bought a new stake in Butterfly Network during the 2nd quarter worth about $33,000. Institutional investors own 37.85% of the company’s stock.

Butterfly Network Company Profile

(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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