Brainsway (NASDAQ:BWAY) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Brainsway (NASDAQ:BWAY) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Separately, HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Brainsway in a report on Monday, June 9th.

Brainsway Price Performance

Brainsway stock opened at $12.10 on Friday. The stock’s 50-day moving average is $11.89 and its 200-day moving average is $10.47. The company has a market cap of $228.69 million, a price-to-earnings ratio of 60.50 and a beta of 1.42. Brainsway has a 12 month low of $6.65 and a 12 month high of $13.65.

Brainsway (NASDAQ:BWAY) last posted its earnings results on Tuesday, May 13th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Brainsway had a return on equity of 7.35% and a net margin of 9.01%. The business had revenue of $11.54 million during the quarter, compared to analyst estimates of $11.45 million. Research analysts anticipate that Brainsway will post 0.08 EPS for the current year.

Institutional Trading of Brainsway

Several hedge funds have recently added to or reduced their stakes in the business. Valor Management LLC acquired a new position in shares of Brainsway in the 4th quarter worth approximately $19,838,000. ARK Investment Management LLC boosted its position in shares of Brainsway by 6.1% in the 2nd quarter. ARK Investment Management LLC now owns 199,826 shares of the company’s stock worth $2,628,000 after purchasing an additional 11,498 shares during the last quarter. MYDA Advisors LLC lifted its stake in Brainsway by 100.2% in the fourth quarter. MYDA Advisors LLC now owns 120,100 shares of the company’s stock valued at $1,133,000 after buying an additional 60,100 shares during the period. Two Sigma Investments LP lifted its stake in Brainsway by 2.0% in the fourth quarter. Two Sigma Investments LP now owns 92,755 shares of the company’s stock valued at $875,000 after buying an additional 1,786 shares during the period. Finally, Huntleigh Advisors Inc. lifted its stake in Brainsway by 5.7% in the second quarter. Huntleigh Advisors Inc. now owns 77,416 shares of the company’s stock valued at $1,018,000 after buying an additional 4,143 shares during the period. Institutional investors own 30.11% of the company’s stock.

About Brainsway

BrainsWay Ltd. develops and sells noninvasive neurostimulation treatments for mental health disorders in the United States and internationally. It offers Deep Transcranial Magnetic Stimulation platform technology for the treatment of major depressive disorders, anxious depression, obsessive-compulsive disorders, smoking addiction, bipolar disorders, post traumatic stress disorders, schizophrenia, Alzheimer's disease, autism, chronic pain, multiple sclerosis, post stroke rehabilitation, and Parkinson's diseases.