Butterfly Network (NYSE:BFLY) Shares Gap Up – What’s Next?

Butterfly Network, Inc. (NYSE:BFLY)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $2.07, but opened at $2.26. Butterfly Network shares last traded at $2.24, with a volume of 137,104 shares traded.

Wall Street Analyst Weigh In

Separately, William Blair assumed coverage on shares of Butterfly Network in a research report on Monday, March 17th. They issued an “outperform” rating on the stock.

Butterfly Network Trading Down 3.6 %

The firm has a 50-day moving average of $3.24 and a two-hundred day moving average of $2.99. The firm has a market capitalization of $555.08 million, a PE ratio of -4.97 and a beta of 2.60.

Hedge Funds Weigh In On Butterfly Network

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ground Swell Capital LLC acquired a new stake in shares of Butterfly Network in the fourth quarter valued at about $32,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Butterfly Network during the fourth quarter valued at approximately $34,000. Verdence Capital Advisors LLC acquired a new position in shares of Butterfly Network during the fourth quarter worth $41,000. Barclays PLC boosted its stake in shares of Butterfly Network by 27,790.0% in the third quarter. Barclays PLC now owns 25,101 shares of the company’s stock valued at $44,000 after purchasing an additional 25,011 shares during the period. Finally, Kovitz Investment Group Partners LLC purchased a new position in Butterfly Network in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 37.85% of the company’s stock.

Butterfly Network Company Profile

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.