Brainsway (NASDAQ:BWAY) Stock Price Down 5.3% – Here’s What Happened

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s stock price traded down 5.3% during trading on Monday . The stock traded as low as $15.75 and last traded at $15.4560. 36,703 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 165,150 shares. The stock had previously closed at $16.32.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BWAY. LADENBURG THALM/SH SH lifted their target price on Brainsway from $18.00 to $18.80 and gave the company a “buy” rating in a research report on Thursday, August 13th. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. BTIG Research lifted their price objective on Brainsway from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brainsway in a research note on Tuesday, July 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of Brainsway in a report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.95.

Brainsway Stock Performance

The company has a market cap of $588.31 million, a P/E ratio of 33.32 and a beta of 1.24. The firm’s fifty day moving average is $15.20 and its two-hundred day moving average is $14.42.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. The business had revenue of $17.11 million for the quarter, compared to the consensus estimate of $16.54 million. Brainsway had a return on equity of 12.74% and a net margin of 15.65%. On average, equities research analysts expect that Brainsway Ltd. Sponsored ADR will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Y.D. More Investments Ltd lifted its stake in Brainsway by 136.6% in the 1st quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock worth $3,615,000 after purchasing an additional 157,042 shares in the last quarter. Masters Capital Management LLC grew its position in shares of Brainsway by 65.0% during the first quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock valued at $21,928,000 after purchasing an additional 650,000 shares in the last quarter. Renaissance Technologies LLC grew 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 valued at $6,890,000 after purchasing an additional 241,560 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Brainsway by 262.5% in the first quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock worth $3,009,000 after purchasing an additional 163,925 shares during the last quarter. Finally, Sigma Planning Corp lifted its position in shares of Brainsway by 369.1% in the first quarter. Sigma Planning Corp now owns 70,363 shares of the company’s stock worth $935,000 after buying an additional 55,363 shares in the last quarter. 30.11% of the stock is currently owned by institutional investors.

Brainsway Company Profile

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.