Short Interest in Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Drops By 21.1%

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 60,376 shares, a decrease of 21.1% from the December 15th total of 76,503 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 73,199 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily volume of 73,199 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.4% of the company’s stock are short sold.

Institutional Investors Weigh In On Brainsway

A number of hedge funds and other institutional investors have recently made changes to their positions in BWAY. Raymond James Financial Inc. purchased a new stake in shares of Brainsway during the 2nd quarter valued at about $85,000. Bank of America Corp DE acquired a new stake in Brainsway during the 3rd quarter valued at approximately $107,000. Centiva Capital LP purchased a new stake in Brainsway during the 3rd quarter worth approximately $181,000. NewEdge Advisors LLC increased its holdings in Brainsway by 61.5% during the 1st quarter. NewEdge Advisors LLC now owns 19,828 shares of the company’s stock worth $188,000 after purchasing an additional 7,549 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in shares of Brainsway in the 3rd quarter valued at approximately $263,000. Hedge funds and other institutional investors own 30.11% of the company’s stock.

Brainsway Stock Up 0.3%

Shares of Brainsway stock opened at $23.18 on Monday. The firm has a market cap of $453.86 million, a price-to-earnings ratio of 77.27 and a beta of 1.19. Brainsway has a 52-week low of $7.84 and a 52-week high of $24.84. The company’s 50-day simple moving average is $18.14 and its 200-day simple moving average is $15.78.

Brainsway (NASDAQ:BWAY) last announced its quarterly earnings data 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 net margin of 12.73% and a return on equity of 9.46%. Equities research analysts anticipate that Brainsway will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

BWAY has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Brainsway in a report on Monday, December 29th. Wall Street Zen upgraded shares of Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Northland Securities raised their price target on Brainsway from $19.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, November 12th. Finally, HC Wainwright upped their price objective on Brainsway from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.50.

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.