BrainsWay (NASDAQ:BWAY – Get Free Report) issued its earnings results on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06, MarketWatch Earnings reports. The business had revenue of $8.30 million for the quarter, compared to analysts’ expectations of $7.70 million. BrainsWay had a negative net margin of 28.45% and a negative return on equity of 18.95%. During the same quarter in the previous year, the firm posted ($0.15) EPS.
BrainsWay Price Performance
BWAY stock traded up $0.09 during midday trading on Friday, hitting $4.76. The stock had a trading volume of 64,150 shares, compared to its average volume of 73,617. BrainsWay has a 52-week low of $1.38 and a 52-week high of $4.85. The firm has a market cap of $79.02 million, a price-to-earnings ratio of -18.64 and a beta of 0.89. The business has a 50-day moving average of $3.89 and a two-hundred day moving average of $2.87.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on BWAY shares. Raymond James lowered shares of BrainsWay from an “outperform” rating to a “market perform” rating in a report on Thursday. Oppenheimer raised their price target on BrainsWay from $5.50 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of BrainsWay in a research report on Friday, September 22nd.
Institutional Trading of BrainsWay
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new position in shares of BrainsWay during the fourth quarter valued at approximately $38,000. Advisor Group Holdings Inc. increased its position in BrainsWay by 130.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,552 shares of the company’s stock valued at $40,000 after buying an additional 2,577 shares in the last quarter. Renaissance Technologies LLC purchased a new position in BrainsWay during the first quarter valued at $55,000. Millennium Management LLC purchased a new stake in shares of BrainsWay in the second quarter worth $73,000. Finally, Citadel Advisors LLC boosted its stake in BrainsWay by 8.5% in the 2nd quarter. Citadel Advisors LLC now owns 60,768 shares of the company’s stock worth $138,000 after purchasing an additional 4,747 shares in the last quarter. 30.76% of the stock is owned by hedge funds and other institutional investors.
Brainsway Ltd. develops and sells noninvasive neurostimulation treatments for mental health disorders in the United States, the Asia Pacific, Europe, 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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