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

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) shares traded down 5.3% during trading on Monday . The company traded as low as $15.75 and last traded at $15.4560. Approximately 36,703 shares were traded 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 Ratings Changes

A number of research analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Brainsway in a research report on Friday, July 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Brainsway in a research note on Tuesday, July 21st. Zacks Research downgraded shares of Brainsway from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. LADENBURG THALM/SH SH upped their price target on shares of Brainsway from $18.00 to $18.80 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wall Street Zen raised shares of Brainsway from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Brainsway has an average rating of “Moderate Buy” and a consensus price target of $16.95.

Brainsway Stock Down 6.4%

The business has a 50 day moving average price of $15.18 and a two-hundred day moving average price of $14.39. The stock has a market cap of $612.79 million, a P/E ratio of 34.72 and a beta of 1.24.

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

Hedge Funds Weigh In On Brainsway

Several hedge funds have recently modified their holdings of BWAY. NewEdge Advisors LLC boosted its position in shares of Brainsway by 61.5% during the first quarter. NewEdge Advisors LLC now owns 19,828 shares of the company’s stock worth $188,000 after acquiring an additional 7,549 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Brainsway in the 2nd quarter valued at $85,000. UBS Group AG lifted its stake in Brainsway by 2,028.6% in the 3rd quarter. UBS Group AG now owns 63,878 shares of the company’s stock worth $963,000 after purchasing an additional 60,877 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Brainsway by 25.2% during the 3rd quarter. Two Sigma Investments LP now owns 102,902 shares of the company’s stock valued at $1,551,000 after purchasing an additional 20,706 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Brainsway during the third quarter valued at about $107,000. Hedge funds and other institutional investors own 30.11% of the company’s stock.

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.