Butterfly Network, Inc. (NYSE:BFLY – Get Free Report) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 21,780,000 shares, an increase of 9.4% from the March 15th total of 19,900,000 shares. Based on an average daily volume of 1,790,000 shares, the short-interest ratio is presently 12.2 days. Currently, 14.9% of the shares of the company are short sold.
Institutional Trading of Butterfly Network
Several large investors have recently made changes to their positions in BFLY. JPMorgan Chase & Co. boosted its position in shares of Butterfly Network by 12.9% during the 1st quarter. JPMorgan Chase & Co. now owns 115,044 shares of the company’s stock worth $547,000 after acquiring an additional 13,149 shares in the last quarter. Raymond James & Associates boosted its position in shares of Butterfly Network by 21.4% during the 1st quarter. Raymond James & Associates now owns 523,185 shares of the company’s stock worth $2,490,000 after acquiring an additional 92,240 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Butterfly Network by 50.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 68,328 shares of the company’s stock valued at $325,000 after purchasing an additional 22,931 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Butterfly Network by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 428,825 shares of the company’s stock valued at $2,041,000 after purchasing an additional 9,936 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Butterfly Network in the 1st quarter valued at approximately $65,000. Institutional investors and hedge funds own 37.85% of the company’s stock.
Butterfly Network Stock Performance
Shares of NYSE:BFLY traded down $0.04 on Wednesday, reaching $0.90. 646,276 shares of the company’s stock were exchanged, compared to its average volume of 1,123,231. The company has a fifty day moving average of $1.07 and a 200-day moving average of $1.03. Butterfly Network has a twelve month low of $0.76 and a twelve month high of $2.79.
About Butterfly Network
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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