Brainsway (NASDAQ:BWAY) Shares Up 1.9% - Here's What Happened

Key Points

• Brainsway Ltd. shares increased by 1.9% to close at $15.52, with trading volume down 38% from its average.
• Analyst ratings reflect a consensus of "Moderate Buy" with an average target price of $18.00, with some reports upgrading the stock to "buy" status.
• The company's latest quarterly earnings showed an EPS of $0.10, surpassing expectations, and it has forecasted an EPS of $0.08 for the current fiscal year.

Shares of Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY - Get Free Report) shot up 1.9% during trading on Wednesday . The company traded as high as $15.70 and last traded at $15.52. 37,893 shares traded hands during trading, a decline of 38% from the average session volume of 61,021 shares. The stock had previously closed at $15.23.

Analyst Upgrades and Downgrades

BWAY has been the topic of a number of analyst reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Brainsway in a research note on Saturday, September 27th. Northland Securities upped their price target on shares of Brainsway from $15.00 to $19.00 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Wall Street Zen upgraded shares of Brainsway from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. Finally, HC Wainwright reiterated a "buy" rating and issued a $17.00 price target on shares of Brainsway in a research note on Monday, August 25th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Brainsway has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Brainsway Stock Performance

The firm has a market cap of $294.41 million, a PE ratio of 59.69 and a beta of 1.23. The stock has a 50-day simple moving average of $14.62 and a two-hundred day simple moving average of $11.88.

Brainsway (NASDAQ:BWAY - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. Brainsway had a net margin of 11.60% and a return on equity of 8.97%. The firm had revenue of $12.63 million during the quarter, compared to analyst estimates of $12.34 million. Brainsway has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Brainsway Ltd. Sponsored ADR will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Brainsway

Several hedge funds and other institutional investors have recently made changes to their positions in BWAY. Raymond James Financial Inc. purchased a new stake in shares of Brainsway during the 2nd quarter valued at about $85,000. GAMMA Investing LLC increased its position in shares of Brainsway by 720.7% during the 1st quarter. GAMMA Investing LLC now owns 9,356 shares of the company's stock valued at $89,000 after purchasing an additional 8,216 shares during the last quarter. Palumbo Wealth Management LLC purchased a new stake in shares of Brainsway during the 1st quarter valued at about $111,000. Trexquant Investment LP purchased a new stake in Brainsway in the 1st quarter worth approximately $129,000. Finally, NewEdge Advisors LLC increased its holdings in Brainsway by 61.5% in the 1st quarter. NewEdge Advisors LLC now owns 19,828 shares of the company's stock worth $188,000 after acquiring an additional 7,549 shares in the last quarter. Hedge funds and other 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.

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