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

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) shares gapped down prior to trading 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 traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports 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 raised Brainsway from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. HC Wainwright reissued a “buy” rating and issued a $17.00 price target on shares of Brainsway in a research report on Thursday, July 2nd. Finally, Zacks Research cut Brainsway from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Brainsway Price Performance

The stock has a fifty day moving average of $15.21 and a 200 day moving average of $13.51. The firm has a market capitalization of $605.56 million, a P/E ratio of 43.12 and a beta of 1.22.

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, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $14.63 million. Equities analysts forecast that Brainsway Ltd. Sponsored ADR will post 0.33 EPS for the current fiscal year.

Institutional Trading of Brainsway

Several hedge funds have recently added to or reduced their stakes in BWAY. Masters Capital Management LLC grew its position in shares of Brainsway by 65.0% during the 1st quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock valued at $21,928,000 after acquiring an additional 650,000 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Brainsway by 87.2% in the 1st 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. Y.D. More Investments Ltd raised its holdings in shares of Brainsway by 136.6% in the 1st quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock worth $3,615,000 after purchasing an additional 157,042 shares during the period. Sei Investments Co. lifted its stake in Brainsway by 262.5% in the first quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock valued at $3,009,000 after purchasing an additional 163,925 shares during the last quarter. Finally, ARK Investment Management LLC purchased a new position in Brainsway in the fourth quarter valued at approximately $2,422,000. 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.