BrainsWay (NASDAQ:BWAY) Announces Earnings Results, Beats Estimates By $0.06 EPS

BrainsWay (NASDAQ:BWAY) issued its quarterly earnings results on Wednesday. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06, MarketWatch Earnings reports. BrainsWay had a negative net margin of 50.67% and a negative return on equity of 29.12%. During the same period last year, the firm posted ($0.15) EPS.

BrainsWay Price Performance

BWAY opened at $4.48 on Thursday. The company’s 50 day simple moving average is $3.87 and its two-hundred day simple moving average is $2.85. BrainsWay has a 1-year low of $1.38 and a 1-year high of $4.85. The firm has a market capitalization of $74.37 million, a price-to-earnings ratio of -11.49 and a beta of 0.89.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Wasatch Advisors Inc. lifted its stake in BrainsWay by 4.7% in the 1st quarter. Wasatch Advisors Inc. now owns 1,285,631 shares of the company’s stock worth $11,198,000 after purchasing an additional 58,172 shares in the last quarter. Worth Venture Partners LLC purchased a new stake in shares of BrainsWay during the 2nd quarter valued at approximately $721,000. State Street Corp raised its position in shares of BrainsWay by 3.7% during the 1st quarter. State Street Corp now owns 162,609 shares of the company’s stock valued at $1,416,000 after buying an additional 5,846 shares during the period. Citadel Advisors LLC raised its position in shares of BrainsWay by 8.5% during the 2nd quarter. Citadel Advisors LLC now owns 60,768 shares of the company’s stock valued at $138,000 after buying an additional 4,747 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of BrainsWay by 40.0% during the 2nd quarter. Renaissance Technologies LLC now owns 43,971 shares of the company’s stock valued at $100,000 after buying an additional 12,556 shares during the period. 30.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BWAY has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of BrainsWay in a research note on Friday, September 22nd. Raymond James lowered shares of BrainsWay from an “outperform” rating to a “market perform” rating in a research note on Thursday.

BrainsWay Company Profile

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.