BrainsWay Ltd. (NASDAQ:BWAY) Short Interest Up 30.5% in August

BrainsWay Ltd. (NASDAQ:BWAY) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 49,200 shares, an increase of 30.5% from the August 15th total of 37,700 shares. Based on an average trading volume of 69,800 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BWAY shares. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of BrainsWay in a research note on Monday. Northland Securities upped their price target on shares of BrainsWay from $9.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th.

BrainsWay Price Performance

BrainsWay stock traded up $0.22 during mid-day trading on Monday, hitting $8.44. 142,860 shares of the company’s stock traded hands, compared to its average volume of 94,590. The firm has a 50 day simple moving average of $7.32 and a two-hundred day simple moving average of $6.30. BrainsWay has a fifty-two week low of $3.09 and a fifty-two week high of $8.60. The stock has a market cap of $140.65 million, a price-to-earnings ratio of -93.78 and a beta of 1.25.

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

Hedge Funds Weigh In On BrainsWay

Institutional investors and hedge funds have recently made changes to their positions in the company. Perritt Capital Management Inc bought a new stake in BrainsWay in the 2nd quarter valued at $121,000. Acadian Asset Management LLC boosted its position in shares of BrainsWay by 48.1% in the second quarter. Acadian Asset Management LLC now owns 259,787 shares of the company’s stock valued at $1,567,000 after acquiring an additional 84,371 shares during the period. Rhumbline Advisers grew its stake in shares of BrainsWay by 10.3% in 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. Virtu Financial LLC bought a new position in BrainsWay during the first quarter worth about $60,000. Finally, Essex Investment Management Co. LLC increased its position in BrainsWay by 37.5% during the first quarter. Essex Investment Management Co. LLC now owns 324,843 shares of the company’s stock worth $1,718,000 after acquiring an additional 88,593 shares during the period. Institutional investors and hedge funds 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.