Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Short Interest Update

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) saw a large decrease in short interest in February. As of February 13th, there was short interest totaling 50,818 shares, a decrease of 41.9% from the January 29th total of 87,521 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 84,100 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 84,100 shares, the short-interest ratio is currently 0.6 days. Approximately 0.3% of the company’s shares are short sold.

Brainsway Stock Up 3.5%

Shares of NASDAQ BWAY traded up $0.80 during trading on Monday, hitting $23.94. 82,101 shares of the company traded hands, compared to its average volume of 108,826. The firm has a market capitalization of $469.48 million, a P/E ratio of 79.80 and a beta of 1.20. The company has a 50-day moving average price of $22.45 and a 200-day moving average price of $18.18. Brainsway has a 1 year low of $7.84 and a 1 year high of $26.63.

Shares of Brainsway are going to split on Tuesday, March 3rd. The 2-1 split was recently announced. The newly created shares will be issued to shareholders after the market closes on Monday, March 2nd.

Hedge Funds Weigh In On Brainsway

Hedge funds and other institutional investors have recently modified their holdings of the company. ARK Investment Management LLC acquired a new position in shares of Brainsway during the fourth quarter worth $2,422,000. Y.D. More Investments Ltd grew its holdings in Brainsway by 559.8% during the 4th quarter. Y.D. More Investments Ltd now owns 114,962 shares of the company’s stock valued at $2,187,000 after purchasing an additional 97,537 shares in the last quarter. UBS Group AG increased its stake in Brainsway by 2,028.6% during the 3rd quarter. UBS Group AG now owns 63,878 shares of the company’s stock worth $963,000 after buying an additional 60,877 shares during the period. Two Sigma Investments LP lifted its holdings in Brainsway by 25.2% in the 3rd quarter. Two Sigma Investments LP now owns 102,902 shares of the company’s stock worth $1,551,000 after buying an additional 20,706 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Brainsway by 69.6% in the 3rd quarter. Millennium Management LLC now owns 39,841 shares of the company’s stock valued at $600,000 after buying an additional 16,354 shares during the last quarter. 30.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BWAY has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Brainsway in a research report on Monday, December 29th. HC Wainwright lifted their target price on shares of Brainsway from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Wall Street Zen downgraded Brainsway from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Northland Securities set a $30.00 price target on Brainsway in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Brainsway presently has a consensus rating of “Moderate Buy” and an average 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.