Brainsway (NASDAQ:BWAY) Stock Price Down 4.4% – Here’s Why

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) traded down 4.4% on Monday . The company traded as low as $13.31 and last traded at $12.97. 50,245 shares were traded during mid-day trading, a decline of 76% from the average session volume of 206,300 shares. The stock had previously closed at $13.57.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BWAY shares. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. HC Wainwright dropped their price target on Brainsway from $30.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Northland Securities set a $15.00 price objective on shares of Brainsway in a report on Thursday, January 22nd. Zacks Research upgraded shares of Brainsway from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 24th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Brainsway in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $15.00.

Brainsway Stock Down 2.5%

The company has a market capitalization of $490.80 million, a P/E ratio of 49.04 and a beta of 1.10. The business has a 50 day moving average of $12.73 and a 200 day moving average of $10.21.

Brainsway (NASDAQ:BWAY) last released its quarterly earnings data on Wednesday, March 11th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $14.55 million for the quarter, compared to the consensus estimate of $14.02 million. Brainsway had a return on equity of 11.10% and a net margin of 14.62%. On average, research analysts anticipate that Brainsway Ltd. Sponsored ADR will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Brainsway

Several institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in shares of Brainsway by 2.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 25,738 shares of the company’s stock worth $490,000 after buying an additional 589 shares in the last quarter. Man Group plc raised its position in shares of Brainsway by 4.5% during the 4th quarter. Man Group plc now owns 18,027 shares of the company’s stock valued at $343,000 after buying an additional 782 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Brainsway by 7.4% in the 3rd quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock valued at $431,000 after acquiring an additional 1,964 shares during the last quarter. Zuckerman Investment Group LLC lifted its holdings in shares of Brainsway by 5.3% in the 3rd quarter. Zuckerman Investment Group LLC now owns 40,000 shares of the company’s stock valued at $603,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Palumbo Wealth Management LLC grew its position in Brainsway by 37.9% in the fourth quarter. Palumbo Wealth Management LLC now owns 16,320 shares of the company’s stock worth $310,000 after acquiring an additional 4,483 shares in the last quarter. 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.