Short Interest in BrainsWay Ltd. (NASDAQ:BWAY) Rises By 81.0%

BrainsWay Ltd. (NASDAQ:BWAY - Get Free Report) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 49,600 shares, a growth of 81.0% from the December 15th total of 27,400 shares. Based on an average trading volume of 76,700 shares, the days-to-cover ratio is currently 0.6 days.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Northland Securities upped their target price on shares of BrainsWay from $11.00 to $12.50 and gave the stock an "outperform" rating in a report on Thursday, October 3rd. HC Wainwright reissued a "buy" rating and set a $16.00 price target on shares of BrainsWay in a research report on Monday, December 23rd.

BrainsWay Price Performance

BWAY stock traded up $0.46 during trading hours on Tuesday, reaching $9.89. The stock had a trading volume of 98,278 shares, compared to its average volume of 47,122. BrainsWay has a fifty-two week low of $4.61 and a fifty-two week high of $10.98. The stock has a 50-day simple moving average of $9.70 and a 200 day simple moving average of $8.61. The stock has a market capitalization of $186.06 million, a PE ratio of 98.91 and a beta of 1.23.

BrainsWay (NASDAQ:BWAY - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.03. BrainsWay had a net margin of 3.88% and a return on equity of 3.52%. The company had revenue of $10.50 million during the quarter, compared to analysts' expectations of $10.07 million. During the same quarter in the previous year, the business posted ($0.01) earnings per share. On average, sell-side analysts forecast that BrainsWay will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in BrainsWay by 10.3% in the 2nd quarter. Rhumbline Advisers now owns 18,077 shares of the company's stock worth $110,000 after purchasing an additional 1,695 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of BrainsWay by 316.3% in the third quarter. JPMorgan Chase & Co. now owns 14,769 shares of the company's stock valued at $136,000 after buying an additional 11,221 shares in the last quarter. Finally, Good Life Advisors LLC boosted its position in shares of BrainsWay by 65.5% during the third quarter. Good Life Advisors LLC now owns 55,800 shares of the company's stock valued at $516,000 after buying an additional 22,080 shares during the last quarter. 30.11% of the stock is owned by institutional investors.

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.