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

BrainsWay Ltd. (NASDAQ:BWAY) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 36,300 shares, a drop of 14.8% from the June 15th total of 42,600 shares. Based on an average daily trading volume, of 61,400 shares, the days-to-cover ratio is currently 0.6 days.

BrainsWay Price Performance

Shares of NASDAQ BWAY traded up $0.34 during midday trading on Monday, reaching $6.90. 72,455 shares of the stock traded hands, compared to its average volume of 96,327. The company’s 50 day moving average is $5.99 and its 200 day moving average is $5.97. BrainsWay has a one year low of $2.17 and a one year high of $7.61. The stock has a market capitalization of $115.02 million, a PE ratio of -76.55 and a beta of 1.24.

BrainsWay (NASDAQ:BWAY) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. BrainsWay had a negative return on equity of 3.98% and a negative net margin of 4.83%. The company had revenue of $9.10 million during the quarter, compared to the consensus estimate of $8.65 million. As a group, equities analysts forecast that BrainsWay will post 0.02 EPS for the current year.

Institutional Trading of BrainsWay

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BWAY. Legato Capital Management LLC purchased a new position in shares of BrainsWay during the fourth quarter valued at approximately $542,000. Jump Financial LLC purchased a new stake in BrainsWay in the fourth quarter worth $207,000. Essex Investment Management Co. LLC bought a new stake in shares of BrainsWay during the fourth quarter worth $1,531,000. Tucker Asset Management LLC boosted its stake in shares of BrainsWay by 1,686.9% during the fourth quarter. Tucker Asset Management LLC now owns 5,450 shares of the company’s stock valued at $35,000 after purchasing an additional 5,145 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of BrainsWay during the fourth quarter valued at $70,000. 30.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BWAY shares. Oppenheimer boosted their target price on BrainsWay from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of BrainsWay in a research report on Wednesday, June 5th.

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.