Brainsway (NASDAQ:BWAY) Shares Gap Down - Time to Sell?

Key Points

• Brainsway shares fell 1.4%, gapping down from a prior close of $13.57 to open at $13.14, while trading below both its 50-day and 200-day moving averages.
• Analyst sentiment remains generally positive: five analysts rate the stock a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $18.20.
• The company exceeded quarterly expectations, reporting $0.14 in EPS versus $0.10 expected and revenue of $17.11 million versus $16.54 million projected; institutional investors own 30.11% of the stock.

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $13.57, but opened at $13.14. Brainsway shares last traded at $13.4220, with a volume of 36,886 shares traded.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. New Street Research reissued a "buy" rating on shares of Brainsway in a report on Friday, July 24th. Weiss Ratings lowered shares of Brainsway from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, August 19th. HC Wainwright reaffirmed a "buy" rating and set a $19.00 price objective on shares of Brainsway in a research report on Tuesday, September 8th. BTIG Research reaffirmed a "buy" rating and set a $20.00 price objective on shares of Brainsway in a research report on Thursday, September 10th. Finally, LADENBURG THALM/SH SH increased their price objective 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. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Brainsway has a consensus rating of "Moderate Buy" and an average price target of $18.20.

Brainsway Trading Down 1.4%

The firm has a market cap of $538.05 million, a price-to-earnings ratio of 30.48 and a beta of 1.25. The stock has a 50-day moving average of $14.90 and a 200-day moving average of $14.76.

Brainsway (NASDAQ:BWAY - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.04. The firm had revenue of $17.11 million for the quarter, compared to analyst estimates of $16.54 million. Brainsway had a return on equity of 12.74% and a net margin of 15.65%. As a group, research analysts expect that Brainsway Ltd. Sponsored ADR will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of Brainsway

Large investors have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Brainsway during the first quarter valued at about $40,000. Ballast Advisors LLC bought a new position in Brainsway in the 1st quarter valued at about $55,000. Royal Bank of Canada increased its stake in Brainsway by 84.2% during the 1st quarter. Royal Bank of Canada now owns 15,490 shares of the company's stock valued at $206,000 after buying an additional 7,080 shares during the period. NewEdge Advisors LLC increased its stake in Brainsway by 434.6% during the 2nd quarter. NewEdge Advisors LLC now owns 18,830 shares of the company's stock valued at $292,000 after buying an additional 15,308 shares during the period. Finally, Bank of America Corp DE acquired a new position in Brainsway during the 1st quarter valued at about $206,000. 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.

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