Butterfly Network (NASDAQ:BFLY – Get Rating) issued its earnings results on Wednesday. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09, Fidelity Earnings reports. Butterfly Network had a negative net margin of 159.44% and a negative return on equity of 24.94%. During the same period in the previous year, the company earned ($0.19) EPS. Butterfly Network updated its FY 2022 guidance to EPS.
Butterfly Network Trading Up 11.1 %
NASDAQ:BFLY traded up $0.66 during mid-day trading on Friday, hitting $6.58. 5,030,417 shares of the company’s stock were exchanged, compared to its average volume of 2,535,990. The firm has a market capitalization of $1.30 billion, a P/E ratio of -11.96 and a beta of 2.41. Butterfly Network has a fifty-two week low of $2.31 and a fifty-two week high of $13.56. The company has a 50 day simple moving average of $3.66 and a 200-day simple moving average of $4.24.
Insider Transactions at Butterfly Network
In other news, insider Darius Shahida sold 16,069 shares of the company’s stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $3.18, for a total value of $51,099.42. Following the completion of the sale, the insider now owns 676,932 shares in the company, valued at approximately $2,152,643.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 42.11% of the company’s stock.
Institutional Inflows and Outflows
Wall Street Analyst Weigh In
Separately, Cowen reduced their price objective on shares of Butterfly Network from $12.00 to $7.00 in a research note on Wednesday, May 11th.
About Butterfly Network
Butterfly Network, Inc, a digital health company, 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+, a point-of-care ultrasound imaging device that connects with a smartphone, tablet, and hospital computer system; and Butterfly Blueprint, a system-wide ultrasound platform with Compass software that integrates into a healthcare system's clinical and administrative infrastructure.
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