BrainsWay Ltd. (NASDAQ:BWAY) Sees Significant Decline in Short Interest

BrainsWay Ltd. (NASDAQ:BWAY) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 111,600 shares, a decline of 41.3% from the February 29th total of 190,000 shares. Based on an average daily volume of 144,700 shares, the short-interest ratio is presently 0.8 days.

BrainsWay Trading Up 0.8 %

BrainsWay stock traded up $0.04 during mid-day trading on Thursday, reaching $5.29. The company had a trading volume of 65,521 shares, compared to its average volume of 139,258. BrainsWay has a 1 year low of $1.38 and a 1 year high of $7.61. The stock’s 50-day simple moving average is $6.13 and its 200-day simple moving average is $5.41.

BrainsWay (NASDAQ:BWAY) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. The business had revenue of $9.03 million for the quarter, compared to the consensus estimate of $8.40 million. BrainsWay had a negative return on equity of 10.05% and a negative net margin of 13.20%. During the same period in the prior year, the business earned ($0.12) earnings per share. On average, research analysts anticipate that BrainsWay will post -0.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating on shares of BrainsWay in a research report on Monday, March 11th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Worth Venture Partners LLC acquired a new position in shares of BrainsWay in the 2nd quarter valued at approximately $721,000. Essex Investment Management Co. LLC acquired a new stake in BrainsWay in the fourth quarter worth about $1,531,000. Legato Capital Management LLC bought a new position in shares of BrainsWay in the fourth quarter valued at approximately $542,000. AIGH Capital Management LLC lifted its holdings in BrainsWay by 6.5% in the 3rd quarter. AIGH Capital Management LLC now owns 1,355,022 shares of the company’s stock valued at $5,474,000 after acquiring an additional 83,262 shares during the last quarter. Finally, Wasatch Advisors Inc. boosted its position in shares of BrainsWay by 4.7% during the 1st quarter. Wasatch Advisors Inc. now owns 1,285,631 shares of the company’s stock valued at $11,198,000 after purchasing an additional 58,172 shares in the last quarter. 30.11% of the stock is owned by hedge funds and other institutional investors.

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.