HC Wainwright Reaffirms Buy Rating for BrainsWay (NASDAQ:BWAY)

BrainsWay (NASDAQ:BWAY)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They currently have a $16.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 86.92% from the company’s previous close.

Separately, Northland Securities increased their price objective on shares of BrainsWay from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th.

BrainsWay Trading Up 4.1 %

NASDAQ:BWAY traded up $0.34 during trading hours on Monday, reaching $8.56. The company had a trading volume of 89,112 shares, compared to its average volume of 94,287. The firm’s 50 day moving average price is $7.27 and its 200-day moving average price is $6.28. The firm has a market cap of $142.65 million, a price-to-earnings ratio of -93.89 and a beta of 1.25. BrainsWay has a 52 week low of $3.09 and a 52 week high of $8.60.

BrainsWay (NASDAQ:BWAY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 EPS for the quarter. BrainsWay had a return on equity of 1.45% and a net margin of 1.67%. The company had revenue of $10.01 million during the quarter, compared to analyst estimates of $9.40 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. On average, analysts forecast that BrainsWay will post 0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BrainsWay

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tucker Asset Management LLC lifted its holdings in BrainsWay by 1,686.9% during the fourth quarter. Tucker Asset Management LLC now owns 5,450 shares of the company’s stock valued at $35,000 after purchasing an additional 5,145 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of BrainsWay during the 4th quarter valued at $70,000. Virtu Financial LLC bought a new position in BrainsWay in the 1st quarter worth $60,000. Rhumbline Advisers raised its holdings in BrainsWay by 10.3% during the second quarter. Rhumbline Advisers now owns 18,077 shares of the company’s stock valued at $110,000 after acquiring an additional 1,695 shares during the period. Finally, Perritt Capital Management Inc bought a new stake in BrainsWay during the second quarter valued at about $121,000. 30.11% of the stock is owned by hedge funds and other institutional investors.

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.