HC Wainwright Issues Negative Outlook for BrainsWay Earnings

BrainsWay Ltd. (NASDAQ:BWAY) – Stock analysts at HC Wainwright lowered their Q3 2024 EPS estimates for shares of BrainsWay in a report issued on Monday, October 21st. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings per share of $0.02 for the quarter, down from their prior estimate of $0.04. HC Wainwright currently has a “Buy” rating and a $16.00 target price on the stock. The consensus estimate for BrainsWay’s current full-year earnings is $0.06 per share. HC Wainwright also issued estimates for BrainsWay’s Q4 2024 earnings at $0.02 EPS and FY2024 earnings at $0.06 EPS.

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

Separately, Northland Securities raised their price target on shares of BrainsWay from $11.00 to $12.50 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd.

BrainsWay Stock Performance

BWAY opened at $9.55 on Tuesday. The stock has a fifty day moving average of $8.51 and a 200-day moving average of $6.92. The company has a market capitalization of $159.15 million, a P/E ratio of -106.11 and a beta of 1.26. BrainsWay has a fifty-two week low of $3.09 and a fifty-two week high of $10.61.

Hedge Funds Weigh In On BrainsWay

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BWAY. Quadrature Capital Ltd acquired a new stake in shares of BrainsWay during the 4th quarter worth approximately $70,000. Virtu Financial LLC acquired a new stake in shares of BrainsWay in the 1st quarter valued at $60,000. Rhumbline Advisers increased its stake in shares of BrainsWay by 10.3% in the 2nd quarter. Rhumbline Advisers now owns 18,077 shares of the company’s stock valued at $110,000 after purchasing an additional 1,695 shares during the last quarter. Perritt Capital Management Inc bought a new position in shares of BrainsWay in the 2nd quarter valued at $121,000. Finally, Good Life Advisors LLC raised its holdings in shares of BrainsWay by 65.5% during the 3rd quarter. Good Life Advisors LLC now owns 55,800 shares of the company’s stock worth $516,000 after buying an additional 22,080 shares in the last quarter. 30.11% of the stock is owned by institutional investors and hedge funds.

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.