BrainsWay Ltd. (NASDAQ:BWAY) Short Interest Down 18.6% in October

BrainsWay Ltd. (NASDAQ:BWAY) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 37,600 shares, a decline of 18.6% from the October 15th total of 46,200 shares. Based on an average daily volume of 95,600 shares, the days-to-cover ratio is presently 0.4 days.

BrainsWay Stock Down 4.3 %

Shares of BrainsWay stock traded down $0.41 during trading on Friday, hitting $9.12. 41,313 shares of the company were exchanged, compared to its average volume of 95,706. BrainsWay has a fifty-two week low of $4.30 and a fifty-two week high of $10.98. The stock has a market capitalization of $152.12 million, a price-to-earnings ratio of 91.21 and a beta of 1.25. The firm has a 50 day moving average price of $9.27 and a 200 day moving average price of $7.49.

BrainsWay (NASDAQ:BWAY) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. BrainsWay had a return on equity of 3.52% and a net margin of 3.88%. The firm had revenue of $10.50 million during the quarter, compared to the consensus estimate of $10.07 million. During the same period in the previous year, the firm posted ($0.01) EPS. Analysts predict that BrainsWay will post 0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BWAY. Acadian Asset Management LLC raised its holdings in BrainsWay by 583.2% in the 1st quarter. Acadian Asset Management LLC now owns 175,416 shares of the company’s stock valued at $923,000 after acquiring an additional 149,740 shares during the last quarter. Rhumbline Advisers raised its holdings in BrainsWay by 10.3% in the 2nd quarter. Rhumbline Advisers now owns 18,077 shares of the company’s stock valued at $110,000 after acquiring an additional 1,695 shares during the last quarter. Perritt Capital Management Inc acquired a new position in BrainsWay in the 2nd quarter valued at $121,000. Virtu Financial LLC acquired a new position in BrainsWay in the 1st quarter valued at $60,000. Finally, Good Life Advisors LLC raised its holdings in BrainsWay by 65.5% in the 3rd quarter. Good Life Advisors LLC now owns 55,800 shares of the company’s stock valued at $516,000 after acquiring an additional 22,080 shares during the last quarter. 30.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BWAY. Northland Securities boosted their price target on BrainsWay from $11.00 to $12.50 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of BrainsWay in a research note on Monday, October 21st.

About BrainsWay

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.