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

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) was the target of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 101,072 shares, an increase of 98.9% from the February 12th total of 50,818 shares. Based on an average daily trading volume, of 81,504 shares, the short-interest ratio is presently 1.2 days. Currently, 0.3% of the company’s shares are sold short. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 81,504 shares, the short-interest ratio is presently 1.2 days.

Brainsway Stock Performance

Shares of NASDAQ:BWAY traded down $0.03 during midday trading on Friday, reaching $13.71. The company’s stock had a trading volume of 230,808 shares, compared to its average volume of 183,626. Brainsway has a fifty-two week low of $3.92 and a fifty-two week high of $14.65. The firm has a 50 day moving average price of $12.13 and a two-hundred day moving average price of $9.53. The firm has a market capitalization of $537.71 million, a price-to-earnings ratio of 54.84 and a beta of 1.20.

Brainsway (NASDAQ:BWAY) last released its earnings results on Wednesday, March 11th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. The business had revenue of $14.55 million during the quarter, compared to analysts’ expectations of $14.02 million. Brainsway had a return on equity of 11.34% and a net margin of 14.62%. As a group, research analysts anticipate that Brainsway will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on BWAY. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Northland Securities set a $15.00 price objective on Brainsway in a research report on Thursday, January 22nd. HC Wainwright reduced their target price on Brainsway from $30.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Brainsway in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.00.

Hedge Funds Weigh In On Brainsway

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in shares of Brainsway during the 2nd quarter worth about $85,000. Bank of America Corp DE bought a new stake in Brainsway in the 3rd quarter valued at about $107,000. Royal Bank of Canada raised its stake in Brainsway by 1,145.9% during the 4th quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock worth $160,000 after buying an additional 7,735 shares during the period. Centiva Capital LP bought a new position in Brainsway in the third quarter worth approximately $181,000. Finally, NewEdge Advisors LLC boosted its holdings in Brainsway by 61.5% in the first quarter. NewEdge Advisors LLC now owns 19,828 shares of the company’s stock worth $188,000 after acquiring an additional 7,549 shares in the last quarter. Institutional investors and hedge funds own 30.11% of the company’s stock.

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.