BrainsWay Ltd. (NASDAQ:BWAY) Short Interest Down 18.6% in October

BrainsWay Ltd. (NASDAQ:BWAY) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 37,600 shares, a decline of 18.6% from the October 15th total of 46,200 shares. Based on an average daily volume of 95,600 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BWAY. Northland Securities raised their price objective on shares of BrainsWay from $11.00 to $12.50 and gave the company 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 research note on Monday, October 21st.

Hedge Funds Weigh In On BrainsWay

Several institutional investors have recently bought and sold shares of BWAY. Virtu Financial LLC bought a new position in BrainsWay during the first quarter valued at $60,000. Rhumbline Advisers raised its stake in shares of BrainsWay by 10.3% in the second quarter. Rhumbline Advisers now owns 18,077 shares of the company’s stock valued at $110,000 after acquiring an additional 1,695 shares during the period. Perritt Capital Management Inc purchased a new stake in shares of BrainsWay in the second quarter valued at $121,000. Good Life Advisors LLC raised its stake in shares of BrainsWay by 65.5% in the third 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 during the period. Finally, Acadian Asset Management LLC raised its stake in shares of BrainsWay by 583.2% in the first quarter. Acadian Asset Management LLC now owns 175,416 shares of the company’s stock valued at $923,000 after acquiring an additional 149,740 shares during the period. Institutional investors own 30.11% of the company’s stock.

BrainsWay Stock Performance

Shares of BWAY traded down $0.41 during mid-day trading on Friday, hitting $9.12. 41,232 shares of the company traded hands, compared to its average volume of 95,706. BrainsWay has a 1 year low of $4.30 and a 1 year high of $10.98. The stock has a market cap of $152.12 million, a price-to-earnings ratio of 91.21 and a beta of 1.25. The stock has a 50-day moving average price of $9.23 and a two-hundred day moving average price of $7.46.

BrainsWay (NASDAQ:BWAY) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $10.50 million during the quarter, compared to analyst estimates of $10.07 million. BrainsWay had a net margin of 3.88% and a return on equity of 3.52%. During the same period in the prior year, the business posted ($0.01) earnings per share. On average, analysts forecast that BrainsWay will post 0.05 EPS 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.