Zacks Investment Research Upgrades BRAINSWAY LTD/S (NASDAQ:BWAY) to “Hold”

BRAINSWAY LTD/S (NASDAQ:BWAY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

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According to Zacks, “BrainsWay Ltd. is a commercial stage medical device company. It is focused on the development and sale of non-invasive neuromodulation products using the Company’s proprietary Deep Transcranial Magnetic Stimulation technology for the treatment of major depressive disorder and obsessive-compulsive disorder. BrainsWay Ltd. is based in Jerusalem, Israel. “

BWAY traded down $0.06 during trading on Friday, hitting $9.29. The company had a trading volume of 4,100 shares, compared to its average volume of 10,796. The stock has a 50-day moving average of $9.17. BRAINSWAY LTD/S has a 1-year low of $8.00 and a 1-year high of $12.39.

BRAINSWAY LTD/S (NASDAQ:BWAY) last posted its quarterly earnings results on Monday, August 26th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.06). The company had revenue of $5.70 million for the quarter, compared to analysts’ expectations of $5.30 million. On average, sell-side analysts predict that BRAINSWAY LTD/S will post -0.52 earnings per share for the current year.

Several large investors have recently modified their holdings of the business. Victory Capital Management Inc. acquired a new stake in shares of BRAINSWAY LTD/S during the second quarter worth $157,000. Noked Capital LTD acquired a new stake in shares of BRAINSWAY LTD/S during the second quarter worth $572,000. ARK Investment Management LLC acquired a new stake in shares of BRAINSWAY LTD/S during the second quarter worth $863,000. Finally, Delek Group Ltd. acquired a new stake in shares of BRAINSWAY LTD/S during the second quarter worth $3,176,000. 10.84% of the stock is currently owned by institutional investors.

About BRAINSWAY LTD/S

Brainsway Ltd. engages in the development and provision of technology solutions for non-invasive treatment of brain disorders in Israel and internationally. It offers deep transcranial magnetic stimulation systems for treating various conditions, including autism, Alzheimer's disease, bipolar disorders, chronic pains, depressive disorders, Parkinson's diseases, schizophrenia, smoking cessation, post-traumatic stress disorders, multiple sclerosis, obsessive compulsive disorders, and stroke rehabilitation.

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Analyst Recommendations for BRAINSWAY LTD/S (NASDAQ:BWAY)

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