Brainsway (NASDAQ:BWAY) Shares Gap Down – Here’s Why

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $13.57, but opened at $13.14. Brainsway shares last traded at $13.4220, with a volume of 36,886 shares traded.

Analyst Ratings Changes

A number of research firms recently commented on BWAY. LADENBURG THALM/SH SH raised their price objective on shares of Brainsway from $18.00 to $18.80 and gave the company a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings downgraded Brainsway from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 19th. New Street Research restated a “buy” rating on shares of Brainsway in a research report on Friday, July 24th. Zacks Research lowered Brainsway from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, BTIG Research reiterated a “buy” rating and set a $20.00 price target on shares of Brainsway in a research report on Thursday, September 10th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.20.

Brainsway Stock Down 1.4%

The stock has a market capitalization of $538.05 million, a P/E ratio of 30.48 and a beta of 1.25. The firm’s 50-day simple moving average is $14.90 and its 200 day simple moving average is $14.76.

Brainsway (NASDAQ:BWAY) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.04. The company had revenue of $17.11 million during the quarter, compared to analyst estimates of $16.54 million. Brainsway had a net margin of 15.65% and a return on equity of 12.74%. As a group, equities analysts anticipate that Brainsway Ltd. Sponsored ADR will post 0.33 EPS for the current fiscal year.

Institutional Trading of Brainsway

A number of large investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Brainsway in the first quarter worth approximately $40,000. Ballast Advisors LLC bought a new position in shares of Brainsway in the first quarter valued at $55,000. Royal Bank of Canada lifted its position in shares of Brainsway by 84.2% during the 1st quarter. Royal Bank of Canada now owns 15,490 shares of the company’s stock valued at $206,000 after acquiring an additional 7,080 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Brainsway by 434.6% during the 2nd quarter. NewEdge Advisors LLC now owns 18,830 shares of the company’s stock valued at $292,000 after acquiring an additional 15,308 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Brainsway during the 1st quarter worth $206,000. 30.11% of the stock is currently owned by institutional investors.

Brainsway Company Profile

BrainsWay Ltd. is a medical technology company that develops and commercializes noninvasive therapies for brain disorders. Its principal technology, Deep Transcranial Magnetic Stimulation (Deep TMS), uses electromagnetic fields to stimulate targeted areas of the brain and is designed to reach deeper and broader regions than conventional transcranial magnetic stimulation.

The company’s product portfolio includes Deep TMS systems, treatment coils, and related software and accessories. Its systems are used by mental health professionals for conditions including major depressive disorder, obsessive-compulsive disorder, and smoking cessation, subject to applicable regulatory clearances and local requirements.