BrainsWay (NASDAQ:BWAY) Downgraded by Raymond James

Raymond James downgraded shares of BrainsWay (NASDAQ:BWAY) from an outperform rating to a market perform rating in a research note released on Thursday morning, MarketBeat reports.

Separately, HC Wainwright reaffirmed a buy rating and issued a $12.00 price target on shares of BrainsWay in a report on Friday, September 22nd.

BrainsWay Price Performance

Shares of NASDAQ BWAY opened at $4.67 on Thursday. BrainsWay has a 1-year low of $1.38 and a 1-year high of $4.85. The business has a fifty day moving average price of $3.89 and a 200 day moving average price of $2.87. The stock has a market capitalization of $77.52 million, a P/E ratio of -18.68 and a beta of 0.89.

BrainsWay (NASDAQ:BWAY) last released its quarterly earnings results on Wednesday, November 15th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. BrainsWay had a negative net margin of 28.45% and a negative return on equity of 18.95%. The business had revenue of $8.30 million for the quarter, compared to analysts’ expectations of $7.70 million. During the same period last year, the business earned ($0.15) EPS. As a group, equities research analysts anticipate that BrainsWay will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BrainsWay

Several hedge funds have recently modified their holdings of the stock. Psagot Value Holdings Ltd. Israel boosted its stake in BrainsWay by 19.3% in the 2nd quarter. Psagot Value Holdings Ltd. Israel now owns 74,081 shares of the company’s stock worth $170,000 after purchasing an additional 12,000 shares in the last quarter. Good Life Advisors LLC increased its stake in BrainsWay by 115.1% during the 2nd quarter. Good Life Advisors LLC now owns 38,720 shares of the company’s stock valued at $88,000 after purchasing an additional 20,720 shares in the last quarter. Citadel Advisors LLC raised its holdings in shares of BrainsWay by 8.5% in the second quarter. Citadel Advisors LLC now owns 60,768 shares of the company’s stock worth $138,000 after buying an additional 4,747 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of BrainsWay by 40.0% during the second quarter. Renaissance Technologies LLC now owns 43,971 shares of the company’s stock worth $100,000 after buying an additional 12,556 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of BrainsWay during the second quarter worth $73,000. Institutional investors and hedge funds own 30.76% of the company’s stock.

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.