Short Interest in BrainsWay Ltd. (NASDAQ:BWAY) Grows By 81.0%

BrainsWay Ltd. (NASDAQ:BWAY) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 49,600 shares, an increase of 81.0% from the December 15th total of 27,400 shares. Based on an average daily volume of 76,700 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

BWAY has been the subject of several research analyst reports. Northland Securities boosted their target price on BrainsWay from $11.00 to $12.50 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of BrainsWay in a report on Monday, December 23rd.

Institutional Investors Weigh In On BrainsWay

Several hedge funds and other institutional investors have recently modified their holdings of BWAY. JPMorgan Chase & Co. increased its position in shares of BrainsWay by 316.3% during the third quarter. JPMorgan Chase & Co. now owns 14,769 shares of the company’s stock worth $136,000 after acquiring an additional 11,221 shares in the last quarter. Good Life Advisors LLC lifted its stake in 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 acquiring an additional 22,080 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in BrainsWay by 10.3% during the 2nd quarter. Rhumbline Advisers now owns 18,077 shares of the company’s stock worth $110,000 after acquiring an additional 1,695 shares during the last quarter. Institutional investors own 30.11% of the company’s stock.

BrainsWay Stock Up 3.6 %

Shares of NASDAQ BWAY traded up $0.36 during trading on Wednesday, reaching $10.25. The company had a trading volume of 59,090 shares, compared to its average volume of 48,443. The stock has a market cap of $192.83 million, a P/E ratio of 102.51 and a beta of 1.23. The company’s fifty day moving average price is $9.69 and its 200-day moving average price is $8.62. BrainsWay has a 12 month low of $4.61 and a 12 month high of $10.98.

BrainsWay (NASDAQ:BWAY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. BrainsWay had a net margin of 3.88% and a return on equity of 3.52%. The company had revenue of $10.50 million during the quarter, compared to the consensus estimate of $10.07 million. During the same quarter last year, the firm posted ($0.01) EPS. As a group, equities analysts predict that BrainsWay will post 0.06 earnings per share for the current year.

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.