BrainsWay Ltd. (NASDAQ:BWAY) Sees Large Decrease in Short Interest

BrainsWay Ltd. (NASDAQ:BWAY - Get Free Report) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 55,300 shares, a decline of 31.0% from the February 13th total of 80,200 shares. Approximately 0.4% of the company's stock are short sold. Based on an average daily volume of 65,600 shares, the days-to-cover ratio is currently 0.8 days.

BrainsWay Stock Performance

NASDAQ BWAY traded up $0.18 during trading hours on Thursday, reaching $10.28. The stock had a trading volume of 23,463 shares, compared to its average volume of 74,865. BrainsWay has a 52-week low of $4.61 and a 52-week high of $11.79. The stock has a market cap of $193.54 million, a P/E ratio of 102.81 and a beta of 1.29. The stock has a fifty day moving average of $10.29 and a 200 day moving average of $9.66.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in 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 acquiring an additional 11,221 shares during the period. Rhumbline Advisers lifted its holdings in BrainsWay by 10.8% in the fourth quarter. Rhumbline Advisers now owns 21,966 shares of the company's stock valued at $207,000 after acquiring an additional 2,144 shares during the period. ARK Investment Management LLC acquired a new position in BrainsWay in the fourth quarter valued at approximately $1,656,000. Two Sigma Investments LP lifted its holdings in BrainsWay by 2.0% in the fourth quarter. Two Sigma Investments LP now owns 92,755 shares of the company's stock valued at $875,000 after acquiring an additional 1,786 shares during the period. Finally, Two Sigma Advisers LP raised its stake in shares of BrainsWay by 32.6% during the 4th quarter. Two Sigma Advisers LP now owns 60,600 shares of the company's stock worth $571,000 after buying an additional 14,900 shares during the period. 30.11% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Separately, HC Wainwright reiterated a "buy" rating and issued a $16.00 target price on shares of BrainsWay in a report on Wednesday, March 12th.

BrainsWay Company Profile

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.