Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Sees Significant Increase in Short Interest
by Mitch Edgeman · The Markets DailyBrainsway Ltd. Sponsored ADR (NASDAQ:BWAY – Get Free Report) saw 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 volume of 81,504 shares, the days-to-cover 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 volume of 81,504 shares, the days-to-cover ratio is presently 1.2 days.
Analysts Set New Price Targets
Several research firms recently commented on BWAY. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brainsway in a research note on Monday, December 29th. Wall Street Zen raised Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Northland Securities set a $15.00 price target on Brainsway in a report on Thursday, January 22nd. Finally, HC Wainwright dropped their price objective on shares of Brainsway from $30.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.
Read Our Latest Stock Report on BWAY
Hedge Funds Weigh In On Brainsway
Several hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its holdings in shares of Brainsway by 61.5% during the 1st quarter. NewEdge Advisors LLC now owns 19,828 shares of the company’s stock worth $188,000 after purchasing an additional 7,549 shares during the period. Raymond James Financial Inc. acquired a new position in Brainsway during the second quarter valued at approximately $85,000. Eagle Global Advisors LLC grew its stake in Brainsway by 19.3% during the third quarter. Eagle Global Advisors LLC now owns 74,326 shares of the company’s stock worth $1,120,000 after buying an additional 12,000 shares during the period. Huntleigh Advisors Inc. grew its stake in Brainsway by 6.3% during the third quarter. Huntleigh Advisors Inc. now owns 82,265 shares of the company’s stock worth $1,240,000 after buying an additional 4,849 shares during the period. Finally, Essex Investment Management Co. LLC increased its position in shares of Brainsway by 3.2% in the third quarter. Essex Investment Management Co. LLC now owns 310,684 shares of the company’s stock worth $4,682,000 after acquiring an additional 9,744 shares in the last quarter. 30.11% of the stock is owned by institutional investors and hedge funds.
Brainsway Stock Down 0.2%
Shares of NASDAQ BWAY traded down $0.03 during trading on Friday, hitting $13.71. 230,808 shares of the company traded hands, compared to its average volume of 220,139. The firm has a market capitalization of $537.71 million, a P/E ratio of 54.84 and a beta of 1.20. The company has a 50-day moving average price of $12.04 and a 200-day moving average price of $9.48. Brainsway has a 1 year low of $3.92 and a 1 year high of $14.65.
Brainsway (NASDAQ:BWAY – Get Free Report) last issued its earnings results on Wednesday, March 11th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. Brainsway had a return on equity of 11.34% and a net margin of 14.62%.The business had revenue of $14.55 million for the quarter, compared to analyst estimates of $14.02 million. Research analysts predict that Brainsway will post 0.08 EPS for the current fiscal year.
Brainsway Company Profile
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.