BrainsWay Ltd. (NASDAQ:BWAY) Sees Significant Increase in Short Interest

BrainsWay Ltd. (NASDAQ:BWAY) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 125,100 shares, an increase of 126.2% from the February 28th total of 55,300 shares. Based on an average trading volume of 65,800 shares, the short-interest ratio is currently 1.9 days. Approximately 0.8% of the company’s stock are sold short.

BrainsWay Stock Performance

NASDAQ:BWAY traded down $0.31 during trading hours on Friday, hitting $9.30. The stock had a trading volume of 34,677 shares, compared to its average volume of 74,039. BrainsWay has a one year low of $4.61 and a one year high of $11.79. The company has a market cap of $175.09 million, a price-to-earnings ratio of 93.01 and a beta of 1.29. The business’s 50 day moving average is $10.27 and its 200-day moving average is $9.76.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of BrainsWay in a report on Wednesday, March 12th.

Institutional Trading of BrainsWay

Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in 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 purchasing an additional 11,221 shares during the period. Rhumbline Advisers raised its stake in shares of BrainsWay by 10.8% during the fourth quarter. Rhumbline Advisers now owns 21,966 shares of the company’s stock valued at $207,000 after acquiring an additional 2,144 shares during the last quarter. ARK Investment Management LLC acquired a new position in BrainsWay during the 4th quarter worth about $1,656,000. Two Sigma Investments LP boosted its holdings in BrainsWay by 2.0% in the fourth quarter. Two Sigma Investments LP now owns 92,755 shares of the company’s stock valued at $875,000 after acquiring an additional 1,786 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of BrainsWay by 32.6% in the 4th quarter. Two Sigma Advisers LP now owns 60,600 shares of the company’s stock valued at $571,000 after purchasing an additional 14,900 shares during the last quarter. 30.11% of the stock is owned by institutional investors and hedge funds.

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.