BrainsWay Ltd. (NASDAQ:BWAY) Short Interest Up 6.6% in September

BrainsWay Ltd. (NASDAQ:BWAY) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 29,000 shares, an increase of 6.6% from the September 15th total of 27,200 shares. Based on an average daily trading volume, of 89,000 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analyst Weigh In

BWAY has been the subject of several recent analyst reports. Northland Securities raised their target price on shares of BrainsWay from $11.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of BrainsWay in a report on Monday, September 16th.

Hedge Funds Weigh In On BrainsWay

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position in BrainsWay by 583.2% during the first quarter. Acadian Asset Management LLC now owns 175,416 shares of the company’s stock valued at $923,000 after acquiring an additional 149,740 shares in the last quarter. Quadrature Capital Ltd bought a new position in BrainsWay during the fourth quarter valued at approximately $70,000. Rhumbline Advisers raised its position 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 in the last quarter. Perritt Capital Management Inc bought a new position in shares of BrainsWay in the second quarter valued at approximately $121,000. Finally, Virtu Financial LLC bought a new position in shares of BrainsWay in the first quarter valued at approximately $60,000. Institutional investors own 30.11% of the company’s stock.

BrainsWay Stock Performance

Shares of BWAY stock traded up $0.28 during trading on Wednesday, hitting $9.60. 173,996 shares of the company were exchanged, compared to its average volume of 95,127. The firm has a market capitalization of $159.98 million, a price-to-earnings ratio of -103.56 and a beta of 1.26. The business’s 50-day simple moving average is $8.17 and its 200 day simple moving average is $6.74. BrainsWay has a twelve month low of $3.09 and a twelve month high of $10.00.

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

About BrainsWay

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.