BrainsWay Ltd. (NASDAQ:BWAY) Sees Significant Increase in Short Interest

BrainsWay Ltd. (NASDAQ:BWAY) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 46,200 shares, a growth of 59.3% from the September 30th total of 29,000 shares. Based on an average daily volume of 100,500 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of BrainsWay

Institutional investors and hedge funds have recently modified their holdings of the company. Quadrature Capital Ltd bought a new stake in shares of BrainsWay during the 4th quarter valued at $70,000. Virtu Financial LLC bought a new stake in shares of BrainsWay during the 1st quarter valued at $60,000. Rhumbline Advisers raised its position in shares of BrainsWay by 10.3% during 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. Perritt Capital Management Inc bought a new stake in shares of BrainsWay during the 2nd quarter valued at $121,000. Finally, Good Life Advisors LLC raised its position 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 valued at $516,000 after purchasing an additional 22,080 shares during the period. 30.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BWAY shares. 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 restated a “buy” rating and issued a $16.00 target price on shares of BrainsWay in a report on Monday, October 21st.

BrainsWay Price Performance

Shares of BrainsWay stock opened at $9.65 on Friday. The company’s fifty day simple moving average is $8.58 and its 200-day simple moving average is $6.98. The stock has a market capitalization of $160.82 million, a PE ratio of -107.22 and a beta of 1.26. BrainsWay has a 1-year low of $3.09 and a 1-year high of $10.61.

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 business had revenue of $10.01 million for 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 quarter last year, the company posted ($0.05) EPS. As a group, research analysts anticipate that BrainsWay will post 0.06 EPS for the current year.

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.