Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Short Interest Up 44.6% in December

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) was the target of a large increase in short interest in 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 shares of the company are sold short. Based on an average daily trading volume, of 57,093 shares, the short-interest ratio is currently 1.3 days. Based on an average daily trading volume, of 57,093 shares, the short-interest ratio is currently 1.3 days. Approximately 0.5% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. HC Wainwright upped their price objective on Brainsway from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brainsway in a research note on Monday. Northland Securities increased their price target on shares of Brainsway from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, November 12th. Finally, Wall Street Zen raised shares of 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.50.

Brainsway Trading Up 0.9%

Shares of NASDAQ:BWAY traded up $0.17 on Wednesday, hitting $19.15. The company had a trading volume of 8,406 shares, compared to its average volume of 59,420. The company has a market cap of $374.92 million, a PE ratio of 64.33 and a beta of 1.22. Brainsway has a 52-week low of $7.84 and a 52-week high of $19.80. The business has a 50 day moving average of $16.73 and a 200 day moving average of $14.86.

Brainsway (NASDAQ:BWAY) last announced 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). Brainsway had a net margin of 12.73% and a return on equity of 9.46%. The firm had revenue of $13.51 million during the quarter, compared to analyst estimates of $13.04 million. As a group, equities analysts predict that Brainsway will post 0.08 EPS for the current year.

Institutional Trading of Brainsway

Several hedge funds and other institutional investors have recently bought and sold shares of BWAY. Essex Investment Management Co. LLC lifted its stake in shares of Brainsway by 3.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 310,684 shares of the company’s stock worth $4,682,000 after purchasing an additional 9,744 shares during the period. ARK Investment Management LLC increased its stake in Brainsway by 6.1% in the second quarter. ARK Investment Management LLC now owns 199,826 shares of the company’s stock valued at $2,628,000 after purchasing an additional 11,498 shares during the last quarter. Two Sigma Investments LP lifted its position in Brainsway by 25.2% during the third quarter. Two Sigma Investments LP now owns 102,902 shares of the company’s stock worth $1,551,000 after buying an additional 20,706 shares during the period. Huntleigh Advisors Inc. boosted its stake in Brainsway by 6.3% in the 3rd quarter. Huntleigh Advisors Inc. now owns 82,265 shares of the company’s stock worth $1,240,000 after buying an additional 4,849 shares during the last quarter. Finally, Eagle Global Advisors LLC grew its holdings in Brainsway by 19.3% in the 3rd quarter. Eagle Global Advisors LLC now owns 74,326 shares of the company’s stock valued at $1,120,000 after buying an additional 12,000 shares during the period. 30.11% of the stock is owned by hedge funds and other institutional investors.

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.