Brainsway (NASDAQ:BWAY) Downgraded to Hold Rating by Wall Street Zen

Brainsway (NASDAQ:BWAY) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Friday.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brainsway in a report on Monday, December 29th. HC Wainwright lifted their price objective on shares of Brainsway from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Finally, Northland Securities set a $30.00 price objective on shares of Brainsway in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.00.

Brainsway Stock Performance

NASDAQ:BWAY traded down $1.15 during trading hours on Friday, reaching $23.04. The company’s stock had a trading volume of 140,281 shares, compared to its average volume of 106,271. The stock has a 50 day moving average price of $18.88 and a two-hundred day moving average price of $16.09. The company has a market capitalization of $451.12 million, a P/E ratio of 76.80 and a beta of 1.19. Brainsway has a 12 month low of $7.84 and a 12 month high of $24.84.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings results on Tuesday, November 11th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The company had revenue of $13.51 million during the quarter, compared to analysts’ expectations of $13.04 million. Brainsway had a net margin of 12.73% and a return on equity of 9.46%. As a group, analysts predict that Brainsway will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BWAY. Y.D. More Investments Ltd lifted its stake in shares of Brainsway by 559.8% during the fourth quarter. Y.D. More Investments Ltd now owns 114,962 shares of the company’s stock worth $2,187,000 after buying an additional 97,537 shares during the period. UBS Group AG raised its stake in Brainsway by 2,028.6% in the 3rd quarter. UBS Group AG now owns 63,878 shares of the company’s stock worth $963,000 after acquiring an additional 60,877 shares during the last quarter. Two Sigma Investments LP raised its stake in Brainsway by 25.2% in the 3rd quarter. Two Sigma Investments LP now owns 102,902 shares of the company’s stock worth $1,551,000 after acquiring an additional 20,706 shares during the last quarter. Millennium Management LLC lifted its position in Brainsway by 69.6% during the 3rd quarter. Millennium Management LLC now owns 39,841 shares of the company’s stock worth $600,000 after acquiring an additional 16,354 shares during the period. Finally, Centiva Capital LP purchased a new stake in Brainsway during the 3rd quarter valued at about $181,000. 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.