Brainsway (NASDAQ:BWAY) Shares Gap Down – Time to Sell?

Shares of Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) gapped down prior to trading on Wednesday . The stock had previously closed at $16.02, but opened at $14.95. Brainsway shares last traded at $15.0750, with a volume of 2,051 shares trading hands.

Analyst Upgrades and Downgrades

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

Brainsway Stock Performance

The stock has a market cap of $599.74 million, a P/E ratio of 42.70 and a beta of 1.22. The stock’s fifty day moving average is $15.27 and its 200 day moving average is $13.41.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. Brainsway had a return on equity of 12.28% and a net margin of 15.68%.The company had revenue of $15.53 million for the quarter, compared to the consensus estimate of $14.63 million. Equities research analysts predict that Brainsway Ltd. Sponsored ADR will post 0.33 EPS for the current year.

Institutional Investors Weigh In On Brainsway

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Masters Capital Management LLC lifted its position 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 valued at $21,928,000 after buying an additional 650,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Brainsway by 87.2% in the first quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock valued at $6,890,000 after buying an additional 241,560 shares during the last quarter. Y.D. More Investments Ltd increased its position 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 worth $3,615,000 after purchasing an additional 157,042 shares in the last quarter. Sei Investments Co. lifted its stake in Brainsway by 262.5% in the first quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock valued at $3,009,000 after buying an additional 163,925 shares during the last quarter. Finally, ARK Investment Management LLC acquired a new position in shares of Brainsway in the fourth quarter valued at approximately $2,422,000. 30.11% of the stock is owned by institutional investors and hedge funds.

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.