Brainsway (NASDAQ:BWAY) Shares Up 5.1% - Time to Buy?

Key Points

• Shares rose 5.1% to $13.91 on Thursday, but trading volume was about 48,726 shares — roughly 77% below the stock's average daily volume of 207,902.
• Analysts carry a consensus "Buy" rating with a $15.00 price target (1 Strong Buy, 2 Buy, 1 Hold), reflecting recent upgrades even as HC Wainwright trimmed its target from $30 to $15.
• Brainsway beat quarterly expectations (EPS $0.14 vs. $0.11; revenue $14.55M vs. $14.02M), has a market cap of about $576M and a P/E of 57.5, and roughly 30% of the stock is held by hedge funds/institutions.

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY - Get Free Report) shares rose 5.1% during mid-day trading on Thursday . The stock traded as high as $13.89 and last traded at $13.91. Approximately 48,726 shares changed hands during trading, a decline of 77% from the average daily volume of 207,902 shares. The stock had previously closed at $13.23.

Analyst Upgrades and Downgrades

BWAY has been the topic of several research reports. Zacks Research raised shares of Brainsway from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 24th. Northland Securities set a $15.00 target price on shares of Brainsway in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Brainsway from a "hold" rating to a "buy" rating in a research note on Saturday, March 7th. HC Wainwright cut their target price on shares of Brainsway from $30.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, March 12th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Brainsway in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Brainsway has a consensus rating of "Buy" and a consensus price target of $15.00.

Brainsway Price Performance

The stock's 50 day moving average is $12.74 and its two-hundred day moving average is $10.23. The stock has a market capitalization of $575.83 million, a PE ratio of 57.54 and a beta of 1.10.

Brainsway (NASDAQ:BWAY - Get Free Report) last released its earnings results on Wednesday, March 11th. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.03. The firm had revenue of $14.55 million for the quarter, compared to analyst estimates of $14.02 million. Brainsway had a net margin of 14.62% and a return on equity of 11.10%. On average, equities analysts predict that Brainsway Ltd. Sponsored ADR will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Brainsway

Several hedge funds have recently added to or reduced their stakes in BWAY. ARK Investment Management LLC purchased a new position in Brainsway in the fourth quarter valued at approximately $2,422,000. Y.D. More Investments Ltd raised its position in Brainsway by 559.8% in the 4th quarter. Y.D. More Investments Ltd now owns 114,962 shares of the company's stock valued at $2,187,000 after purchasing an additional 97,537 shares during the last quarter. UBS Group AG raised its position in Brainsway by 2,028.6% in the 3rd quarter. UBS Group AG now owns 63,878 shares of the company's stock valued at $963,000 after purchasing an additional 60,877 shares during the last quarter. Two Sigma Investments LP raised its position in Brainsway by 25.2% in the 3rd quarter. Two Sigma Investments LP now owns 102,902 shares of the company's stock valued at $1,551,000 after purchasing an additional 20,706 shares during the last quarter. Finally, Millennium Management LLC raised its position in Brainsway by 69.6% in the 3rd quarter. Millennium Management LLC now owns 39,841 shares of the company's stock valued at $600,000 after purchasing an additional 16,354 shares during the last quarter. 30.11% of the stock is currently owned by hedge funds and other institutional investors.

Brainsway Company Profile

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.

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