BrainsWay Ltd. (NASDAQ:BWAY) Short Interest Up 126.2% in March

BrainsWay Ltd. (NASDAQ:BWAY - Get Free Report) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 125,100 shares, an increase of 126.2% from the February 28th total of 55,300 shares. Approximately 0.8% of the company's stock are sold short. Based on an average daily trading volume, of 65,800 shares, the days-to-cover ratio is presently 1.9 days.

Analysts Set New Price Targets

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

BrainsWay Stock Performance

Shares of BWAY stock traded down $0.13 during mid-day trading on Tuesday, hitting $9.35. The company's stock had a trading volume of 7,121 shares, compared to its average volume of 73,766. BrainsWay has a 52 week low of $4.61 and a 52 week high of $11.79. The company's fifty day simple moving average is $10.25 and its 200-day simple moving average is $9.80. The company has a market cap of $175.94 million, a PE ratio of 93.46 and a beta of 1.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Valor Management LLC purchased a new stake in BrainsWay during the fourth quarter valued at about $19,838,000. Phoenix Financial Ltd. boosted its stake in shares of BrainsWay by 100.8% during the 4th quarter. Phoenix Financial Ltd. now owns 482,724 shares of the company's stock valued at $4,552,000 after purchasing an additional 242,366 shares in the last quarter. ARK Investment Management LLC bought a new position in BrainsWay in the fourth quarter worth $1,656,000. MYDA Advisors LLC increased its stake in shares of BrainsWay by 100.2% during the fourth quarter. MYDA Advisors LLC now owns 120,100 shares of the company's stock valued at $1,133,000 after purchasing an additional 60,100 shares in the last quarter. Finally, Zuckerman Investment Group LLC lifted its stake in shares of BrainsWay by 346.4% in the fourth quarter. Zuckerman Investment Group LLC now owns 67,000 shares of the company's stock worth $667,000 after buying an additional 51,991 shares in the last quarter. Hedge funds and other institutional investors own 30.11% of the company's stock.

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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.