Short Interest in Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Rises By 116.5%

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 130,715 shares, an increase of 116.5% from the December 31st total of 60,376 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 149,034 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily trading volume, of 149,034 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.8% of the shares of the company are short sold.

Brainsway Trading Down 2.7%

BWAY opened at $24.05 on Friday. Brainsway has a twelve month low of $7.84 and a twelve month high of $25.65. The firm has a market capitalization of $470.90 million, a PE ratio of 80.17 and a beta of 1.19. The firm’s 50-day moving average price is $19.67 and its 200 day moving average price is $16.42.

Brainsway (NASDAQ:BWAY) last released its earnings results on Tuesday, November 11th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The business had revenue of $13.51 million during the quarter, compared to analysts’ expectations of $13.04 million. Brainsway had a return on equity of 9.46% and a net margin of 12.73%. As a group, analysts predict that Brainsway will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BWAY. Raymond James Financial Inc. acquired a new stake in Brainsway during the second quarter worth $85,000. Bank of America Corp DE acquired a new stake in shares of Brainsway during the 3rd quarter worth about $107,000. Centiva Capital LP purchased a new stake in Brainsway in the 3rd quarter valued at about $181,000. NewEdge Advisors LLC lifted its position in Brainsway by 61.5% in the first quarter. NewEdge Advisors LLC now owns 19,828 shares of the company’s stock valued at $188,000 after buying an additional 7,549 shares during the last quarter. Finally, Y.D. More Investments Ltd purchased a new position in Brainsway during the third quarter worth about $263,000. 30.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen cut Brainsway from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. HC Wainwright boosted their price target on shares of Brainsway from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brainsway in a research report on Monday, December 29th. Finally, Northland Securities set a $30.00 target price on shares of Brainsway in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

About Brainsway

Brainsway Ltd is a medical device company specializing in non-invasive neuromodulation therapies. Publicly traded on the NASDAQ under the symbol BWAY, the company develops and commercializes deep transcranial magnetic stimulation (Deep TMS) systems designed to treat a range of neuropsychiatric and neurological disorders. Brainsway’s technology aims to offer an alternative or complement to traditional pharmacological therapies by targeting precise brain regions with its patented coil designs.

The company’s flagship Deep TMS platform utilizes proprietary H-coil arrays engineered to reach deeper cortical structures than conventional TMS devices.