Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $18.20.

A number of brokerages have issued reports on BWAY. Zacks Research lowered Brainsway from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. HC Wainwright restated a “buy” rating and issued a $19.00 price objective on shares of Brainsway in a report on Tuesday, September 8th. New Street Research reaffirmed a “buy” rating on shares of Brainsway in a research note on Friday, July 24th. Weiss Ratings cut Brainsway from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Finally, BTIG Research reaffirmed a “buy” rating and set a $20.00 target price on shares of Brainsway in a report on Thursday, September 10th.

Brainsway Trading Down 2.2%

Brainsway stock opened at $13.63 on Tuesday. Brainsway has a 52 week low of $7.14 and a 52 week high of $17.40. The stock has a market cap of $548.06 million, a price-to-earnings ratio of 30.98 and a beta of 1.25. The company’s 50-day moving average price is $15.03 and its two-hundred day moving average price is $14.78.

Brainsway (NASDAQ:BWAY) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Brainsway had a net margin of 15.65% and a return on equity of 12.74%. The company had revenue of $17.11 million during the quarter, compared to analyst estimates of $16.54 million. Research analysts expect that Brainsway will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brainsway

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its stake in Brainsway by 87.2% during the first quarter. Renaissance Technologies LLC now owns 518,420 shares of the company’s stock valued at $6,890,000 after purchasing an additional 241,560 shares during the last quarter. Y.D. More Investments Ltd grew its position in Brainsway by 136.6% in the first quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock worth $3,615,000 after buying an additional 157,042 shares during the last quarter. Masters Capital Management LLC grew its position in Brainsway by 65.0% in the first quarter. Masters Capital Management LLC now owns 1,650,000 shares of the company’s stock worth $21,928,000 after buying an additional 650,000 shares during the last quarter. Sei Investments Co. increased its holdings in shares of 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 buying an additional 163,925 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Brainsway in the first quarter valued at $433,000. Institutional investors and hedge funds own 30.11% of the company’s stock.

About Brainsway

BrainsWay Ltd. is a medical technology company that develops and commercializes noninvasive therapies for brain disorders. Its principal technology, Deep Transcranial Magnetic Stimulation (Deep TMS), uses electromagnetic fields to stimulate targeted areas of the brain and is designed to reach deeper and broader regions than conventional transcranial magnetic stimulation.

The company’s product portfolio includes Deep TMS systems, treatment coils, and related software and accessories. Its systems are used by mental health professionals for conditions including major depressive disorder, obsessive-compulsive disorder, and smoking cessation, subject to applicable regulatory clearances and local requirements.