Brainsway (NASDAQ:BWAY) Shares Down 6.8% – Here’s What Happened

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s stock price dropped 6.8% on Monday . The company traded as low as $13.92 and last traded at $14.0350. 30,912 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 165,934 shares. The stock had previously closed at $15.06.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BWAY shares. Zacks Research cut shares of Brainsway from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of Brainsway in a report on Thursday, July 2nd. Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings raised Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.00.

Brainsway Trading Down 6.3%

The company’s 50-day moving average price is $15.20 and its two-hundred day moving average price is $13.55. The company has a market cap of $566.07 million, a P/E ratio of 40.74 and a beta of 1.22.

Brainsway (NASDAQ:BWAY) last released its earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. The business had revenue of $15.53 million for the quarter, compared to the consensus estimate of $14.63 million. Equities analysts forecast that Brainsway Ltd. Sponsored ADR will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Masters Capital Management LLC boosted its stake in shares of Brainsway by 65.0% during the 1st quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock worth $21,928,000 after acquiring an additional 650,000 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Brainsway by 87.2% during the first quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock worth $6,890,000 after purchasing an additional 241,560 shares during the period. Sei Investments Co. lifted its holdings in shares of Brainsway by 262.5% during the first quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock valued at $3,009,000 after purchasing an additional 163,925 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Brainsway by 136.6% during the first quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock valued at $3,615,000 after purchasing an additional 157,042 shares during the last quarter. Finally, ARK Investment Management LLC purchased a new stake in shares of Brainsway during the fourth quarter valued at $2,422,000. Institutional investors own 30.11% of the company’s stock.

About Brainsway

Brainsway Ltd is a medical device company specializing in non-invasive neuromodulation therapies. Publicly traded on the NASDAQ under the symbol BWAY, the company develops and commercializes deep transcranial magnetic stimulation (Deep TMS) systems designed to treat a range of neuropsychiatric and neurological disorders. Brainsway’s technology aims to offer an alternative or complement to traditional pharmacological therapies by targeting precise brain regions with its patented coil designs.

The company’s flagship Deep TMS platform utilizes proprietary H-coil arrays engineered to reach deeper cortical structures than conventional TMS devices.