Digital health company Butterfly Network, Inc. (BFLY) in Guilford, Conn., develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. The company is principally engaged in offering a medical imaging system, Butterfly iQ. BFLY went public in February 2021 following its merger with an SPAC called Longview Acquisition Corp.
BFLY shares have slumped 71.5% in price over the past year and 22.9% year-to-date to close yesterday’s trading session at $5.16. The stock is trading below its 50-day and 200-day moving averages, indicating a downtrend. However, the stock has been up 14.2% over the past five days; perhaps investors have been encouraged by the company’s recent developments.
