BrainsWay (NASDAQ:BWAY) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of BrainsWay (NASDAQ:BWAYGet Rating) from a hold rating to a sell rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “BrainsWay Ltd. is a commercial stage medical device company. It is focused on the development and sale of non-invasive neuromodulation products using the Company’s proprietary Deep Transcranial Magnetic Stimulation technology for the treatment of major depressive disorder and obsessive-compulsive disorder. BrainsWay Ltd. is based in Jerusalem, Israel. “

Separately, Loop Capital started coverage on shares of BrainsWay in a report on Thursday, March 3rd. They issued a buy rating and a $15.00 target price on the stock. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $15.50.

Shares of BWAY stock opened at $6.49 on Tuesday. The firm has a 50-day moving average price of $7.94. The company has a market cap of $106.96 million, a PE ratio of -24.96 and a beta of 1.08. BrainsWay has a 52-week low of $6.11 and a 52-week high of $11.77.

BrainsWay (NASDAQ:BWAYGet Rating) last issued its earnings results on Wednesday, March 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $8.47 million for the quarter, compared to analysts’ expectations of $8.03 million. BrainsWay had a negative net margin of 26.36% and a negative return on equity of 13.22%. On average, research analysts predict that BrainsWay will post -0.28 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors Inc. grew its stake in BrainsWay by 11.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,168,193 shares of the company’s stock valued at $9,357,000 after buying an additional 116,510 shares during the last quarter. Masters Capital Management LLC grew its stake in BrainsWay by 63.9% in the 3rd quarter. Masters Capital Management LLC now owns 843,900 shares of the company’s stock valued at $6,802,000 after buying an additional 329,007 shares during the last quarter. Taylor Frigon Capital Management LLC grew its stake in BrainsWay by 0.6% in the 4th quarter. Taylor Frigon Capital Management LLC now owns 212,953 shares of the company’s stock valued at $1,640,000 after buying an additional 1,375 shares during the last quarter. Cowen AND Company LLC grew its stake in BrainsWay by 1.5% in the 3rd quarter. Cowen AND Company LLC now owns 1,397,409 shares of the company’s stock valued at $11,263,000 after buying an additional 21,241 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in BrainsWay in the 4th quarter valued at about $89,000. Institutional investors and hedge funds own 69.34% of the company’s stock.

About BrainsWay (Get Rating)

Brainsway Ltd., a commercial stage medical device company, focuses on the development and sale of non-invasive neuromodulation products in Israel and internationally. It offers deep transcranial magnetic stimulation technology for the treatment of major depressive disorders, obsessive-compulsive disorders, bipolar disorders, post traumatic stress disorders, schizophrenia, smoking cessation, Alzheimer's disease, Asperger syndromes, alcohol addictions, attention deficit hyperactivity disorders, Parkinson's disease, and chronic neuropathic pains to transmit electric current flows at varying rates and creating an electromagnetic field that serves to depolarize cortical neurons and activate neural networks in various areas of the brain.

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