Do Investors Have Much Faith In Butterfly Network Inc (NYSE: BFLY)

Butterfly Network Inc (NYSE:BFLY) does about 1.82M shares in volume on a normal day but saw 1450774 shares change hands in Monday trading. The company now has a market cap of 212.82M USD. Its current market price is $1.01, marking an increase of 2.43% compared to the previous close of $0.99. The 52 week high reached by this stock is $2.71 whilst the lowest price level in 52 weeks is $0.67.

Butterfly Network Inc (BFLY) has a 20-day trading average at $0.9288 and the current price is -62.73% off the 52-week high compared with 49.83% distance from its 52-week low. The 50-day simple moving average of the closing price is $0.9456 and its 200-day simple moving average is $1.0041. If we look at the stock’s price movements over the week, volatility stands at 7.21%, which decreases to 6.89% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 57.86 to suggest the stock is neutral.

The consensus objective for the share price is $3.38, suggesting that the stock has a potential upside of 70.12% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on March 29, 2023 when UBS initiated the stock to “Neutral” and issued a price target of $2.25. B. Riley Securities initiated its price target at $9.50.

Butterfly Network Inc (BFLY) stock is up 20.12% over the week and 5.60% over the past month. Its price is -6.48% year-to-date and -50.49% over the past year.

To reach the target analysts have set, the stock logically needs to grow 70.12 percent from here.

The company has a return on investment of -53.89% and return on equity of -48.75%. The beta has a value of 2.16. Price to book ratio is 1.04 and price to sales ratio is 3.13.