Butterfly Network, Inc. (NYSE:BFLY - Get Free Report)'s share price rose 7.1% during mid-day trading on Thursday . The stock traded as high as $3.34 and last traded at $3.33. Approximately 782,576 shares were traded during trading, a decline of 63% from the average daily volume of 2,120,077 shares. The stock had previously closed at $3.11.

Separately, Lake Street Capital started coverage on shares of Butterfly Network in a report on Tuesday, September 10th. They issued a "buy" rating and a $3.00 price target for the company.

Read Our Latest Research Report on Butterfly Network

The firm has a 50-day simple moving average of $2.76 and a 200-day simple moving average of $1.79. The firm has a market cap of $718.02 million, a P/E ratio of -7.33 and a beta of 2.46.

Butterfly Network (NYSE:BFLY - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. The company had revenue of $20.56 million for the quarter, compared to the consensus estimate of $19.12 million. Butterfly Network had a negative return on equity of 42.68% and a negative net margin of 129.25%. During the same quarter last year, the company earned ($0.13) earnings per share. Research analysts predict that Butterfly Network, Inc. will post -0.34 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Procyon Advisors LLC increased its holdings in shares of Butterfly Network by 7.3% during the third quarter. Procyon Advisors LLC now owns 81,882 shares of the company's stock valued at $145,000 after acquiring an additional 5,600 shares in the last quarter. Hartline Investment Corp increased its stake in Butterfly Network by 87.0% during the 3rd quarter. Hartline Investment Corp now owns 21,500 shares of the company's stock valued at $38,000 after purchasing an additional 10,000 shares in the last quarter. Quent Capital LLC raised its holdings in shares of Butterfly Network by 25.6% in the third quarter. Quent Capital LLC now owns 98,000 shares of the company's stock worth $173,000 after buying an additional 20,000 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Butterfly Network during the third quarter worth $44,000. Finally, Barclays PLC grew its holdings in shares of Butterfly Network by 27,790.0% during the third quarter. Barclays PLC now owns 25,101 shares of the company's stock valued at $44,000 after buying an additional 25,011 shares during the last quarter. 37.85% of the stock is currently owned by hedge funds and other institutional investors.

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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