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

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

Hedge Funds Weigh In On BrainsWay

A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in shares of BrainsWay by 316.3% during the third quarter. JPMorgan Chase & Co. now owns 14,769 shares of the company’s stock valued at $136,000 after purchasing an additional 11,221 shares in the last quarter. Rhumbline Advisers raised its stake in BrainsWay by 10.8% during the 4th quarter. Rhumbline Advisers now owns 21,966 shares of the company’s stock valued at $207,000 after buying an additional 2,144 shares during the last quarter. ARK Investment Management LLC bought a new position in BrainsWay in the fourth quarter valued at about $1,656,000. Sei Investments Co. bought a new position in BrainsWay in the fourth quarter worth approximately $149,000. Finally, Phoenix Financial Ltd. lifted its position 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 buying an additional 242,366 shares in the last quarter. 30.11% of the stock is owned by institutional investors.

BrainsWay Stock Performance

BWAY traded down $0.31 on Friday, hitting $9.30. 34,677 shares of the company were exchanged, compared to its average volume of 74,039. BrainsWay has a 12 month low of $4.61 and a 12 month high of $11.79. The firm has a fifty day simple moving average of $10.27 and a two-hundred day simple moving average of $9.76. The stock has a market capitalization of $175.09 million, a PE ratio of 93.01 and a beta of 1.29.

Analyst Upgrades and Downgrades

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 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.