BrainsWay Ltd. (NASDAQ:BWAY) Sees Significant Decrease in Short Interest

BrainsWay Ltd. (NASDAQ:BWAY) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 104,000 shares, a decrease of 16.9% from the March 15th total of 125,100 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average trading volume of 64,000 shares, the short-interest ratio is currently 1.6 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of BrainsWay in a research note on Wednesday, March 12th.

BrainsWay Price Performance

BWAY stock traded down $0.37 during midday trading on Monday, hitting $7.88. The stock had a trading volume of 38,135 shares, compared to its average volume of 72,596. The company’s 50-day moving average price is $9.61 and its 200 day moving average price is $9.80. The firm has a market cap of $148.59 million, a PE ratio of 78.76 and a beta of 1.17. BrainsWay has a 12-month low of $4.63 and a 12-month high of $11.79.

Hedge Funds Weigh In On BrainsWay

Large investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC acquired a new position in shares of BrainsWay during the 4th quarter valued at about $44,000. GAMMA Investing LLC increased its position in BrainsWay by 720.7% during the 1st quarter. GAMMA Investing LLC now owns 9,356 shares of the company’s stock worth $89,000 after purchasing an additional 8,216 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of BrainsWay by 316.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,769 shares of the company’s stock valued at $136,000 after acquiring an additional 11,221 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of BrainsWay in the fourth quarter worth about $149,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of BrainsWay by 14.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 19,228 shares of the company’s stock valued at $181,000 after purchasing an additional 2,446 shares during the period. 30.11% of the stock is currently owned by hedge funds and other institutional investors.

BrainsWay Company Profile

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.