BFLY Stock Summary and Trading Ideas (Butterfly Network Class A | NYSE:BFLY)

Butterfly Network Inc is a digital health business transforming care with handheld, whole-body ultrasound. Powered by its proprietary Ultrasound-on-Chip technology, its solution enables the acquisition of imaging information from an affordable, powerful device that fits in a healthcare professional's pocket with a combination of cloud-connected software and hardware technology that is easily accessed through a mobile application. Butterfly enables the practical application of ultrasound information in the clinical workflow. Butterfly iQ+ is an ultrasound device that can perform whole-body imaging in a single handheld probe using semiconductor technology. With its small, handheld size, low cost, and simple user interface.

Butterfly Network Class A trades on the NYSE stock market under the symbol BFLY.

As of April 24, 2024, BFLY stock price declined to $0.71 with 1,822,584 million shares trading.

BFLY has a beta of 4.38, meaning it tends to be more sensitive to market movements. BFLY has a correlation of 0.40 to the broad based SPY ETF.

BFLY has a market cap of $144.18 million. This is considered a Micro Cap stock.

Last quarter Butterfly Network Class A reported $17 million in Revenue and -$.21 earnings per share. This beat revenue expectation by $1 million and missed earnings estimates by -$.08.

In the last 3 years, BFLY stock traded as high as $15.65 and as low as $.70.

The top ETF exchange traded funds that BFLY belongs to (by Net Assets): ARKG, VTI, IWM, VXF, IWN.

BFLY has underperformed the market in the last year with a price return of -70.9% while the SPY ETF gained +24.2%. BFLY has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -32.0% and -30.7%, respectively, while the SPY returned +4.6% and -2.7%, respectively.

BFLY support price is $.70 and resistance is $.78 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BFLY stock will trade within this expected range on the day.