William Blair began coverage on shares of Butterfly Network (NYSE:BFLY - Free Report) in a research report sent to investors on Monday, Marketbeat reports. The firm issued an outperform rating on the stock.
Butterfly Network Stock Performance
NYSE:BFLY traded down $0.11 during trading hours on Monday, hitting $2.64. The company's stock had a trading volume of 4,808,381 shares, compared to its average volume of 2,679,748. Butterfly Network has a 52-week low of $0.67 and a 52-week high of $4.98. The business's 50-day moving average is $3.70 and its two-hundred day moving average is $2.92. The company has a market capitalization of $641.56 million, a PE ratio of -5.74 and a beta of 2.48.
Institutional Investors Weigh In On Butterfly Network
Several hedge funds have recently modified their holdings of the company. First Light Asset Management LLC acquired a new position in shares of Butterfly Network during the 4th quarter valued at about $12,463,000. Capital World Investors acquired a new stake in shares of Butterfly Network during the 4th quarter worth $4,239,000. Raymond James Financial Inc. purchased a new stake in Butterfly Network during the fourth quarter valued at about $3,154,000. Tudor Investment Corp ET AL purchased a new position in shares of Butterfly Network in the 4th quarter worth about $2,761,000. Finally, Parkman Healthcare Partners LLC purchased a new stake in shares of Butterfly Network during the 4th quarter worth about $2,340,000. 37.85% of the stock is owned by institutional investors and hedge funds.
About Butterfly Network
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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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