BrainsWay Ltd. (NASDAQ:BWAY) Short Interest Update

BrainsWay Ltd. (NASDAQ:BWAY) was the recipient of a large increase in short interest during 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 volume of 89,000 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of BrainsWay in a report on Monday, September 16th. Northland Securities boosted their price objective on shares of BrainsWay from $11.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday, October 3rd.

BrainsWay Price Performance

NASDAQ:BWAY opened at $10.28 on Friday. The firm has a market capitalization of $171.32 million, a P/E ratio of -114.22 and a beta of 1.26. BrainsWay has a 12-month low of $3.09 and a 12-month high of $10.50. The business has a 50 day simple moving average of $8.29 and a 200 day simple moving average of $6.79.

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

Hedge Funds Weigh In On BrainsWay

A number of institutional investors and hedge funds have recently bought and sold shares of BWAY. Essex Investment Management Co. LLC increased its stake in shares of BrainsWay by 37.5% during the first 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 during the period. Acadian Asset Management LLC grew 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 worth $1,567,000 after acquiring an additional 84,371 shares during the last quarter. Good Life Advisors LLC lifted its holdings in shares of BrainsWay by 65.5% during the third 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 last quarter. Perritt Capital Management Inc acquired a new stake in BrainsWay during the 2nd quarter worth about $121,000. Finally, Rhumbline Advisers boosted its holdings in shares of BrainsWay by 10.3% in the second quarter. Rhumbline Advisers now owns 18,077 shares of the company’s stock worth $110,000 after buying an additional 1,695 shares during the period. Institutional investors own 30.11% of the company’s stock.

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.