Brainsway (NASDAQ:BWAY) Sets New 52-Week High – Here’s What Happened

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $17.50 and last traded at $17.50, with a volume of 700 shares. The stock had previously closed at $16.51.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BWAY. New Street Research restated a “buy” rating on shares of Brainsway in a report on Friday. Zacks Research upgraded Brainsway from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Wall Street Zen lowered shares of Brainsway from a “buy” rating to a “hold” rating in a research note on Saturday. BTIG Research initiated coverage on shares of Brainsway in a research report on Monday, July 20th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Brainsway in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat.com, Brainsway presently has an average rating of “Buy” and an average target price of $15.67.

Brainsway Price Performance

The company has a 50-day simple moving average of $15.02 and a 200-day simple moving average of $13.95. The firm has a market cap of $640.88 million, a PE ratio of 45.63 and a beta of 1.22.

Brainsway (NASDAQ:BWAY) last released its earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Brainsway had a return on equity of 12.28% and a net margin of 15.68%.The firm had revenue of $15.53 million for the quarter, compared to analysts’ expectations of $14.63 million. As a group, equities research analysts predict that Brainsway Ltd. Sponsored ADR will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On Brainsway

Several hedge funds have recently bought and sold shares of the business. Y.D. More Investments Ltd lifted its position in shares of Brainsway by 136.6% during the first quarter. Y.D. More Investments Ltd now owns 272,004 shares of the company’s stock worth $3,615,000 after purchasing an additional 157,042 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Brainsway by 369.1% during the first quarter. Sigma Planning Corp now owns 70,363 shares of the company’s stock valued at $935,000 after purchasing an additional 55,363 shares during the period. Walleye Capital LLC purchased a new stake in shares of Brainsway during the first quarter valued at $433,000. Royal Bank of Canada grew its holdings in shares of Brainsway by 84.2% in the first quarter. Royal Bank of Canada now owns 15,490 shares of the company’s stock worth $206,000 after purchasing an additional 7,080 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Brainsway by 262.5% in the first quarter. Sei Investments Co. now owns 226,378 shares of the company’s stock worth $3,009,000 after purchasing an additional 163,925 shares during the last quarter. Institutional investors own 30.11% of the company’s stock.

About Brainsway

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.