Butterfly Network (NYSE:BFLY) Shares Gap Down – Time to Sell?

Posted by Brenda Bartman on Mar 21st, 2025

Butterfly Network, Inc. (NYSE:BFLY – Get Free Report)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $2.75, but opened at $2.65. Butterfly Network shares last traded at $2.65, with a volume of 114,873 shares trading hands.

Analyst Upgrades and Downgrades

Separately, William Blair initiated coverage on Butterfly Network in a research note on Monday. They set an “outperform” rating on the stock.

Check Out Our Latest Analysis on Butterfly Network

Butterfly Network Stock Performance

The firm has a 50 day simple moving average of $3.70 and a two-hundred day simple moving average of $2.92. The firm has a market capitalization of $642.53 million, a P/E ratio of -5.75 and a beta of 2.48.

Institutional Investors Weigh In On Butterfly Network

Hedge funds have recently made changes to their positions in the business. Ground Swell Capital LLC bought a new stake in shares of Butterfly Network during the 4th quarter worth $32,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Butterfly Network during the 4th quarter worth $34,000. Verdence Capital Advisors LLC bought a new stake in shares of Butterfly Network during the 4th quarter worth $41,000. Barclays PLC raised its stake in shares of Butterfly Network by 27,790.0% during the 3rd quarter. Barclays PLC now owns 25,101 shares of the company’s stock worth $44,000 after purchasing an additional 25,011 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of Butterfly Network during the 3rd quarter worth $44,000. 37.85% of the stock is currently owned by institutional investors.

About Butterfly Network

(Get Free Report)

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.