HC Wainwright Has Pessimistic View of BrainsWay Q3 Earnings

BrainsWay Ltd. (NASDAQ:BWAY) – Stock analysts at HC Wainwright reduced their Q3 2024 EPS estimates for BrainsWay in a research note issued on Monday, October 21st. HC Wainwright analyst R. Selvaraju now forecasts that the company will earn $0.02 per share for the quarter, down from their prior forecast of $0.04. HC Wainwright has a “Buy” rating and a $16.00 price objective 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.

Separately, Northland Securities lifted their price objective on BrainsWay from $11.00 to $12.50 and gave the company an “outperform” rating in a research note on Thursday, October 3rd.

BrainsWay Stock Down 1.2 %

BWAY opened at $9.94 on Tuesday. The business’s fifty day simple moving average is $8.42 and its 200 day simple moving average is $6.87. BrainsWay has a 52 week low of $3.09 and a 52 week high of $10.61. The firm has a market cap of $165.65 million, a P/E ratio of -110.44 and a beta of 1.26.

BrainsWay (NASDAQ:BWAY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $10.01 million during the quarter, compared to the consensus estimate of $9.40 million. BrainsWay had a return on equity of 1.45% and a net margin of 1.67%. During the same period last year, the company earned ($0.05) earnings per share.

Institutional Investors Weigh In On BrainsWay

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Essex Investment Management Co. LLC grew its stake in BrainsWay by 37.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 324,843 shares of the company’s stock valued at $1,718,000 after acquiring an additional 88,593 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of BrainsWay by 48.1% in the 2nd quarter. Acadian Asset Management LLC now owns 259,787 shares of the company’s stock valued at $1,567,000 after purchasing an additional 84,371 shares during the period. Good Life Advisors LLC increased its holdings in shares of BrainsWay by 65.5% in the 3rd quarter. Good Life Advisors LLC now owns 55,800 shares of the company’s stock valued at $516,000 after purchasing an additional 22,080 shares during the period. Perritt Capital Management Inc acquired a new position in shares of BrainsWay in the 2nd quarter valued at about $121,000. Finally, Rhumbline Advisers increased its holdings 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 period. 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.