BrainsWay Ltd. (NASDAQ:BWAY) Short Interest Up 268.0% in August

BrainsWay Ltd. (NASDAQ:BWAY) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 82,800 shares, a growth of 268.0% from the August 15th total of 22,500 shares. Based on an average daily volume of 50,000 shares, the days-to-cover ratio is currently 1.7 days.

BrainsWay Stock Performance

Shares of BrainsWay stock traded down $0.05 during trading on Wednesday, reaching $3.73. 46,212 shares of the company’s stock were exchanged, compared to its average volume of 65,917. BrainsWay has a 1-year low of $1.38 and a 1-year high of $4.01. The company has a market cap of $61.91 million, a P/E ratio of -9.69 and a beta of 0.96. The firm’s 50-day moving average price is $2.83 and its 200 day moving average price is $2.18.

BrainsWay (NASDAQ:BWAY) last posted its earnings results on Wednesday, August 9th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.12. The firm had revenue of $7.83 million during the quarter, compared to analysts’ expectations of $7.03 million. BrainsWay had a negative net margin of 50.67% and a negative return on equity of 29.12%. As a group, equities research analysts predict that BrainsWay will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Raymond James decreased their price objective on BrainsWay from $3.75 to $3.00 in a report on Thursday, May 18th. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of BrainsWay in a research note on Wednesday, September 6th.

Institutional Trading of BrainsWay

A number of hedge funds have recently added to or reduced their stakes in BWAY. Worth Venture Partners LLC bought a new position in shares of BrainsWay in the 2nd quarter valued at $721,000. Wasatch Advisors Inc. increased its stake in shares of BrainsWay by 4.7% in the first quarter. Wasatch Advisors Inc. now owns 1,285,631 shares of the company’s stock valued at $11,198,000 after buying an additional 58,172 shares during the period. Psagot Value Holdings Ltd. Israel boosted its position in BrainsWay by 223.4% during the 1st quarter. Psagot Value Holdings Ltd. Israel now owns 62,081 shares of the company’s stock worth $103,000 after buying an additional 42,883 shares during the period. Renaissance Technologies LLC bought a new position in shares of BrainsWay during the first quarter valued at $55,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of BrainsWay during the fourth quarter worth $55,000. Institutional investors and hedge funds own 30.76% of the company’s stock.

About BrainsWay

Brainsway Ltd. develops and sells noninvasive neurostimulation treatments for mental health disorders in the United States, the Asia Pacific, Europe, 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.