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

Key Points

• Brainsway has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, while HC Wainwright maintains a "buy" rating with a price target of $16.00.
• The stock is currently priced at $11.76, having a market capitalization of $222.26 million and a P/E ratio of 58.80.
• Recent investor activity shows increased stakes in Brainsway by several hedge funds, with 30.11% of the stock now owned by institutional investors.

Wall Street Zen downgraded shares of Brainsway (NASDAQ:BWAY - Free Report) from a buy rating to a hold rating in a report published on Saturday morning.

Separately, HC Wainwright reaffirmed a "buy" rating and set a $16.00 price objective on shares of Brainsway in a research report on Monday, June 9th.

Brainsway Stock Up 4.8%

BWAY stock traded up $0.59 during midday trading on Friday, hitting $12.78. The company's stock had a trading volume of 97,040 shares, compared to its average volume of 51,528. Brainsway has a 52-week low of $7.06 and a 52-week high of $13.65. The firm has a market capitalization of $241.42 million, a P/E ratio of 63.88 and a beta of 1.42. The firm has a 50-day simple moving average of $11.93 and a 200-day simple moving average of $10.48.

Brainsway (NASDAQ:BWAY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. Brainsway had a net margin of 9.01% and a return on equity of 7.35%. The business had revenue of $11.54 million for the quarter, compared to analyst estimates of $11.45 million. On average, sell-side analysts expect that Brainsway will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Valor Management LLC bought a new position in shares of Brainsway in the fourth quarter worth about $19,838,000. ARK Investment Management LLC raised its holdings in Brainsway by 6.1% in the 2nd quarter. ARK Investment Management LLC now owns 199,826 shares of the company's stock valued at $2,628,000 after buying an additional 11,498 shares during the last quarter. MYDA Advisors LLC raised its holdings in Brainsway by 100.2% in the 4th 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 last quarter. Two Sigma Investments LP raised its holdings in Brainsway by 2.0% in the 4th 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 last quarter. Finally, Huntleigh Advisors Inc. raised its holdings in Brainsway by 5.7% in the 2nd 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 last quarter. Institutional investors own 30.11% of the company's stock.

Brainsway Company Profile

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.