BrainsWay Ltd. (NASDAQ:BWAY) Sees Large Drop in Short Interest

BrainsWay Ltd. (NASDAQ:BWAY) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 27,200 shares, a decline of 44.7% from the August 31st total of 49,200 shares. Based on an average daily volume of 73,800 shares, the short-interest ratio is presently 0.4 days.

BrainsWay Price Performance

Shares of NASDAQ:BWAY traded up $0.01 during midday trading on Thursday, hitting $8.27. The company had a trading volume of 30,960 shares, compared to its average volume of 92,959. The company has a market cap of $137.94 million, a price-to-earnings ratio of -91.77 and a beta of 1.25. BrainsWay has a 12-month low of $3.09 and a 12-month high of $8.75. The company has a fifty day moving average of $7.56 and a two-hundred day moving average of $6.40.

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

Institutional Investors Weigh In On BrainsWay

Institutional investors have recently bought and sold shares of the business. Tucker Asset Management LLC increased its stake in BrainsWay by 1,686.9% in the 4th quarter. Tucker Asset Management LLC now owns 5,450 shares of the company’s stock worth $35,000 after buying an additional 5,145 shares in the last quarter. Virtu Financial LLC bought a new stake in BrainsWay in the first quarter worth about $60,000. Quadrature Capital Ltd purchased a new position in shares of BrainsWay during the fourth quarter worth approximately $70,000. Rhumbline Advisers lifted its holdings in BrainsWay by 10.3% during 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. Finally, Perritt Capital Management Inc bought a new stake in shares of BrainsWay in the 2nd quarter valued at about $121,000. Hedge funds and other institutional investors own 30.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BWAY. Northland Securities upped their price objective on BrainsWay from $9.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of BrainsWay in a report on Monday, September 16th.

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.