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

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

Hedge Funds Weigh In On Brainsway

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in shares of Brainsway in the second quarter valued at approximately $85,000. Bank of America Corp DE bought a new position in Brainsway in the 3rd quarter worth $107,000. Centiva Capital LP acquired a new position in Brainsway during the 3rd quarter worth $181,000. NewEdge Advisors LLC boosted its holdings in Brainsway by 61.5% during the first quarter. NewEdge Advisors LLC now owns 19,828 shares of the company’s stock valued at $188,000 after acquiring an additional 7,549 shares during the period. Finally, Y.D. More Investments Ltd acquired a new stake in shares of Brainsway in the third quarter valued at about $263,000. Institutional investors and hedge funds own 30.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on BWAY shares. 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 $18.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Northland Securities upped their price target on shares of Brainsway from $19.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 12th. Finally, Wall Street Zen upgraded Brainsway from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Brainsway Price Performance

Shares of BWAY stock traded up $0.08 on Friday, hitting $23.18. The company’s stock had a trading volume of 55,218 shares, compared to its average volume of 110,906. The stock has a market capitalization of $453.98 million, a price-to-earnings ratio of 77.27 and a beta of 1.19. Brainsway has a fifty-two week low of $7.84 and a fifty-two week high of $24.84. The firm’s fifty day moving average price is $18.14 and its 200-day moving average price is $15.76.

Brainsway (NASDAQ:BWAY) last posted its earnings results on Tuesday, November 11th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.03). The company had revenue of $13.51 million for the quarter, compared to the consensus estimate of $13.04 million. Brainsway had a net margin of 12.73% and a return on equity of 9.46%. Analysts predict that Brainsway will post 0.08 EPS for the current fiscal year.

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.