Zacks Investment Research Upgrades BRAINSWAY LTD/S (NASDAQ:BWAY) to “Hold”

BRAINSWAY LTD/S (NASDAQ:BWAY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday, reports.

According to Zacks, “BrainsWay Ltd. is a commercial stage medical device company. It is focused on the development and sale of non-invasive neuromodulation products using the Company’s proprietary Deep Transcranial Magnetic Stimulation technology for the treatment of major depressive disorder and obsessive-compulsive disorder. BrainsWay Ltd. is based in Jerusalem, Israel. “

BRAINSWAY LTD/S stock traded down $0.06 during trading on Friday, reaching $9.29. The company had a trading volume of 4,100 shares, compared to its average volume of 10,796. BRAINSWAY LTD/S has a 12-month low of $8.00 and a 12-month high of $12.39. The business’s 50 day moving average price is $9.17.

BRAINSWAY LTD/S (NASDAQ:BWAY) last released its earnings results on Monday, August 26th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). The company had revenue of $5.70 million for the quarter, compared to analysts’ expectations of $5.30 million. As a group, analysts anticipate that BRAINSWAY LTD/S will post -0.52 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in BWAY. Delek Group Ltd. purchased a new stake in BRAINSWAY LTD/S in the second quarter valued at approximately $3,176,000. ARK Investment Management LLC purchased a new stake in BRAINSWAY LTD/S during the second quarter worth approximately $863,000. Noked Capital LTD purchased a new stake in BRAINSWAY LTD/S during the second quarter worth approximately $572,000. Finally, Victory Capital Management Inc. purchased a new stake in BRAINSWAY LTD/S during the second quarter worth approximately $157,000. Hedge funds and other institutional investors own 10.84% of the company’s stock.

BRAINSWAY LTD/S Company Profile

Brainsway Ltd. engages in the development and provision of technology solutions for non-invasive treatment of brain disorders in Israel and internationally. It offers deep transcranial magnetic stimulation systems for treating various conditions, including autism, Alzheimer's disease, bipolar disorders, chronic pains, depressive disorders, Parkinson's diseases, schizophrenia, smoking cessation, post-traumatic stress disorders, multiple sclerosis, obsessive compulsive disorders, and stroke rehabilitation.

Read More: What Does a Sell-Side Analyst Rating Mean?

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Analyst Recommendations for BRAINSWAY LTD/S (NASDAQ:BWAY)

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