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

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) gapped down before the market opened 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 changing hands.

Analyst Upgrades and Downgrades

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

Brainsway Trading Down 0.2%

The stock has a market cap of $599.74 million, a PE ratio of 42.70 and a beta of 1.22. The firm has a fifty day simple moving average of $15.27 and a two-hundred day simple moving average of $13.41.

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

Institutional Investors Weigh In On Brainsway

Hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Brainsway in the first quarter worth approximately $40,000. Ballast Advisors LLC purchased a new stake in Brainsway during the first quarter valued at about $55,000. Raymond James Financial Inc. bought a new position in shares of Brainsway during the second quarter valued at about $85,000. Bank of America Corp DE bought a new position in shares of Brainsway during the third quarter valued at about $107,000. Finally, Royal Bank of Canada increased its holdings in shares of Brainsway by 1,145.9% in the fourth quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock worth $160,000 after buying an additional 7,735 shares during the period. 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.