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

Shares of Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) gapped up prior to trading on Monday . The stock had previously closed at $13.92, but opened at $14.49. Brainsway shares last traded at $14.2060, with a volume of 23,715 shares trading hands.

Wall Street Analyst Weigh In

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

Brainsway Trading Up 2.1%

The business has a 50 day simple moving average of $12.83 and a two-hundred day simple moving average of $10.34. The stock has a market cap of $557.47 million, a price-to-earnings ratio of 56.85 and a beta of 1.10.

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

Institutional Investors Weigh In On Brainsway

Hedge funds have recently bought and sold shares of the business. Y.D. More Investments Ltd grew its stake in Brainsway by 559.8% during the 4th quarter. Y.D. More Investments Ltd now owns 114,962 shares of the company’s stock valued at $2,187,000 after purchasing an additional 97,537 shares in the last quarter. Zuckerman Investment Group LLC grew its stake in Brainsway by 5.3% during the 3rd quarter. Zuckerman Investment Group LLC now owns 40,000 shares of the company’s stock valued at $603,000 after purchasing an additional 2,000 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in Brainsway by 3.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 310,684 shares of the company’s stock valued at $4,682,000 after purchasing an additional 9,744 shares in the last quarter. Huntleigh Advisors Inc. grew its stake in Brainsway by 6.3% during the 3rd quarter. Huntleigh Advisors Inc. now owns 82,265 shares of the company’s stock valued at $1,240,000 after purchasing an additional 4,849 shares in the last quarter. Finally, Legato Capital Management LLC lifted its holdings in Brainsway by 9.3% during the 4th quarter. Legato Capital Management LLC now owns 97,376 shares of the company’s stock worth $1,852,000 after buying an additional 8,295 shares during the last quarter. Institutional investors and hedge funds own 30.11% of the company’s stock.

About Brainsway

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.