Brainsway (NASDAQ:BWAY) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Brainsway (NASDAQ:BWAY) from a buy rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

A number of other brokerages have also commented on BWAY. Weiss Ratings lowered shares of Brainsway from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, October 29th. Ladenburg Thalmann & Co. Inc. increased their price objective on Brainsway from $18.00 to $18.80 and gave the company a “buy” rating in a report on Thursday, August 13th. New Street Research restated a “buy” rating on shares of Brainsway in a report on Friday, July 24th. Zacks Research lowered Brainsway from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Brainsway in a report on Friday, October 30th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.20.

Brainsway Price Performance

NASDAQ BWAY traded down $0.14 during trading hours on Friday, reaching $10.11. The company’s stock had a trading volume of 183,575 shares, compared to its average volume of 116,257. The firm has a fifty day simple moving average of $12.26 and a 200-day simple moving average of $13.89. Brainsway has a 52 week low of $7.14 and a 52 week high of $17.40. The stock has a market cap of $406.93 million, a P/E ratio of 20.22 and a beta of 1.36.

Brainsway (NASDAQ:BWAY) last posted its earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Brainsway had a net margin of 15.54% and a return on equity of 13.09%. The firm had revenue of $17.11 million for the quarter, compared to analyst estimates of $16.54 million. On average, research analysts expect that Brainsway will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Masters Capital Management LLC lifted its stake in shares of Brainsway by 65.0% in the 1st quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock valued at $21,928,000 after purchasing an additional 650,000 shares during the period. HWG Holdings LP bought a new stake in shares of Brainsway during the 3rd quarter valued at about $3,340,000. Renaissance Technologies LLC grew its stake in Brainsway by 87.2% during the first quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock worth $6,890,000 after purchasing an additional 241,560 shares during the period. Sei Investments Co. grew its stake in Brainsway by 262.5% during the first quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock worth $3,009,000 after purchasing an additional 163,925 shares during the period. Finally, Tidal Investments LLC grew its stake in Brainsway by 492.8% during the second quarter. Tidal Investments LLC now owns 89,248 shares of the company’s stock worth $1,384,000 after purchasing an additional 74,193 shares during the period. Institutional investors and hedge funds own 30.11% of the company’s stock.

Brainsway Company Profile

BrainsWay Ltd. is an Israel-based medical technology company that develops and commercializes noninvasive treatments for mental health and neurological conditions. Its core technology, Deep Transcranial Magnetic Stimulation (Deep TMS), uses electromagnetic fields and specially designed H-Coils to stimulate brain regions associated with specific conditions. The company’s Deep TMS systems are used for conditions including major depressive disorder, obsessive-compulsive disorder and smoking addiction.