Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Short Interest Down 14.6% in March

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 99,305 shares, a drop of 14.6% from the March 15th total of 116,294 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 166,353 shares, the days-to-cover ratio is currently 0.6 days.

Brainsway Stock Down 0.7%

Shares of BWAY traded down $0.11 during midday trading on Friday, hitting $15.70. The company had a trading volume of 2,961 shares, compared to its average volume of 206,310. The stock has a market cap of $615.84 million, a price-to-earnings ratio of 62.82 and a beta of 1.10. The company’s 50 day moving average price is $13.15 and its 200 day moving average price is $10.51. Brainsway has a 52 week low of $3.92 and a 52 week high of $16.24.

Brainsway (NASDAQ:BWAY) last issued its quarterly earnings results on Wednesday, March 11th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. The business had revenue of $14.55 million for the quarter, compared to analysts’ expectations of $14.02 million. Brainsway had a net margin of 14.62% and a return on equity of 11.10%. Equities analysts anticipate that Brainsway will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Brainsway in a research report on Monday, December 29th. Northland Securities set a $15.00 price objective on shares of Brainsway in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Brainsway from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. HC Wainwright reduced their target price on shares of Brainsway from $30.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Finally, Zacks Research raised Brainsway from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $15.00.

Institutional Investors Weigh In On Brainsway

Institutional investors and hedge funds have recently made changes to their positions in the company. Y.D. More Investments Ltd boosted its holdings in Brainsway by 559.8% in the fourth quarter. Y.D. More Investments Ltd now owns 114,962 shares of the company’s stock worth $2,187,000 after purchasing an additional 97,537 shares during the period. Trexquant Investment LP bought a new position in shares of Brainsway in the 4th quarter worth about $245,000. Centiva Capital LP bought a new position in shares of Brainsway in the 3rd quarter worth about $181,000. Royal Bank of Canada boosted its holdings in shares of Brainsway by 1,145.9% in the 4th quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock valued at $160,000 after buying an additional 7,735 shares during the period. Finally, Bank of America Corp DE bought a new stake in shares of Brainsway during the 3rd quarter valued at about $107,000. 30.11% of the stock is owned by institutional investors and hedge funds.

About Brainsway

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.