Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Sees Large Growth in Short Interest

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 76,503 shares, an increase of 44.6% from the November 30th total of 52,895 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 57,093 shares, the short-interest ratio is presently 1.3 days. Based on an average daily trading volume, of 57,093 shares, the short-interest ratio is presently 1.3 days. Approximately 0.5% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of research analysts have commented on BWAY shares. Northland Securities increased their price objective on shares of Brainsway from $19.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th. HC Wainwright lifted their price target on Brainsway from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Brainsway in a report on Monday, December 22nd. Finally, Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.50.

Institutional Investors Weigh In On Brainsway

A number of hedge funds have recently added to or reduced their stakes in BWAY. Raymond James Financial Inc. acquired a new position in shares of Brainsway during the second quarter valued at $85,000. Bank of America Corp DE bought a new stake in Brainsway in the 3rd quarter valued at about $107,000. Centiva Capital LP acquired a new position in Brainsway during the 3rd quarter valued at about $181,000. Trexquant Investment LP bought a new position in Brainsway in the 1st quarter worth about $129,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of Brainsway in the third quarter valued at approximately $263,000. 30.11% of the stock is currently owned by institutional investors.

Brainsway Stock Down 1.7%

Shares of NASDAQ:BWAY opened at $19.04 on Tuesday. The company has a market cap of $372.80 million, a PE ratio of 63.47 and a beta of 1.22. Brainsway has a fifty-two week low of $7.84 and a fifty-two week high of $19.80. The firm has a 50-day simple moving average of $16.67 and a 200 day simple moving average of $14.81.

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

Brainsway Company Profile

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.