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

Key Points

• Wall Street Zen downgraded Brainsway from “Buy” to “Hold.” Other recent ratings were mixed, but MarketBeat reported a consensus “Moderate Buy” rating and an average price target of $18.20.
• Shares opened at $10.11, below their 50-day moving average of $12.26 and 200-day moving average of $13.89; the stock’s 52-week range was $7.14 to $17.40.
• In its latest reported quarter, Brainsway earned $0.14 per share and generated $17.11 million in revenue, beating analyst estimates of $0.10 per share and $16.54 million in revenue.

Brainsway (NASDAQ:BWAY - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research firms have also recently issued reports on BWAY. Weiss Ratings cut shares of Brainsway from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, October 29th. Zacks Research lowered shares of Brainsway from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Ladenburg Thalmann & Co. Inc. increased their price target on shares of Brainsway from $18.00 to $18.80 and gave the stock a "buy" rating in a research note on Thursday, August 13th. New Street Research restated a "buy" rating on shares of Brainsway in a report on Friday, July 24th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Brainsway in a research note on Friday, October 30th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.20.

Brainsway Price Performance

Shares of NASDAQ BWAY opened at $10.11 on Friday. The business's 50-day moving average price is $12.26 and its two-hundred day moving average price is $13.89. Brainsway has a one year low of $7.14 and a one year high of $17.40. The company has a market capitalization of $406.93 million, a P/E ratio of 20.50 and a beta of 1.36.

Brainsway (NASDAQ:BWAY - Get Free Report) last posted 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. The company had revenue of $17.11 million during the quarter, compared to the consensus estimate of $16.54 million. Brainsway had a return on equity of 13.09% and a net margin of 15.54%. On average, equities analysts anticipate that Brainsway will post 0.33 EPS for the current year.

Hedge Funds Weigh In On Brainsway

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp bought a new stake in Brainsway in the 3rd quarter valued at $33,000. Calamos Advisors LLC acquired a new stake in Brainsway in the 3rd quarter worth $135,000. HWG Holdings LP bought a new position in shares of Brainsway during the 3rd quarter worth about $3,340,000. Tidal Investments LLC increased its holdings in shares of Brainsway by 492.8% during the 2nd quarter. Tidal Investments LLC now owns 89,248 shares of the company's stock worth $1,384,000 after purchasing an additional 74,193 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of Brainsway by 434.6% during the 2nd quarter. NewEdge Advisors LLC now owns 18,830 shares of the company's stock worth $292,000 after purchasing an additional 15,308 shares during the period. Institutional investors own 30.11% of the company's stock.

About Brainsway

BrainsWay Ltd. is an Israel-based medical technology company that develops and commercializes noninvasive treatments for mental health and neurological conditions. Its core technology, Deep Transcranial Magnetic Stimulation (Deep TMS), uses electromagnetic fields and specially designed H-Coils to stimulate brain regions associated with specific conditions. The company's Deep TMS systems are used for conditions including major depressive disorder, obsessive-compulsive disorder and smoking addiction.

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