Brainsway (NASDAQ:BWAY) Stock Price Down 6.8% – Here’s Why

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) fell 6.8% during trading on Monday . The company traded as low as $13.92 and last traded at $14.0350. Approximately 30,912 shares were traded during trading, a decline of 81% from the average session volume of 165,934 shares. The stock had previously closed at $15.06.

Analysts Set New Price Targets

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

Brainsway Stock Performance

The firm has a market capitalization of $579.88 million, a P/E ratio of 41.29 and a beta of 1.22. The stock has a fifty day moving average price of $15.11 and a two-hundred day moving average price of $13.62.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $15.53 million for the quarter, compared to analysts’ expectations of $14.63 million. As a group, research analysts anticipate that Brainsway Ltd. Sponsored ADR will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of Brainsway

A number of institutional investors and hedge funds have recently made changes to their positions in BWAY. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Brainsway in the first quarter worth $40,000. Ballast Advisors LLC acquired a new position in Brainsway during the 1st quarter worth $55,000. Raymond James Financial Inc. bought a new position in shares of Brainsway in the second quarter worth $85,000. Bank of America Corp DE bought a new position in shares of Brainsway in the third quarter worth $107,000. Finally, Royal Bank of Canada increased its holdings in shares of Brainsway by 1,145.9% during the fourth quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock valued at $160,000 after purchasing an additional 7,735 shares during the period. 30.11% of the stock is currently owned by institutional investors and hedge funds.

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.