BrainsWay (NASDAQ:BWAY) Trading Up 1.7% – Here’s Why

BrainsWay Ltd. (NASDAQ:BWAY) shares traded up 1.7% during trading on Friday . The company traded as high as $10.29 and last traded at $10.29. 37,452 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 94,623 shares. The stock had previously closed at $10.12.

Analysts Set New Price Targets

BWAY has been the topic of several recent research reports. Northland Securities increased their price objective on BrainsWay from $11.00 to $12.50 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of BrainsWay in a research note on Monday, October 21st.

BrainsWay Price Performance

The firm has a market cap of $171.64 million, a PE ratio of 102.91 and a beta of 1.23. The stock has a 50 day simple moving average of $9.82 and a 200-day simple moving average of $7.94.

BrainsWay (NASDAQ:BWAY) last issued its earnings results on Tuesday, November 12th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. BrainsWay had a net margin of 3.88% and a return on equity of 3.52%. The firm had revenue of $10.50 million for the quarter, compared to the consensus estimate of $10.07 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. As a group, equities analysts predict that BrainsWay Ltd. will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On BrainsWay

A number of hedge funds have recently bought and sold shares of the business. Rhumbline Advisers raised its stake in BrainsWay by 10.3% during the 2nd quarter. Rhumbline Advisers now owns 18,077 shares of the company’s stock valued at $110,000 after buying an additional 1,695 shares during the last quarter. Perritt Capital Management Inc purchased a new stake in BrainsWay during the second quarter valued at $121,000. Good Life Advisors LLC increased its position in BrainsWay by 65.5% during the third quarter. Good Life Advisors LLC now owns 55,800 shares of the company’s stock valued at $516,000 after acquiring an additional 22,080 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in BrainsWay by 48.1% in the second quarter. Acadian Asset Management LLC now owns 259,787 shares of the company’s stock valued at $1,567,000 after acquiring an additional 84,371 shares during the period. 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.