Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Sees Significant Drop in Short Interest

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) was the recipient of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 50,818 shares, a decrease of 41.9% from the January 29th total of 87,521 shares. Based on an average trading volume of 84,100 shares, the short-interest ratio is currently 0.6 days. Currently, 0.3% of the company’s stock are sold short. Currently, 0.3% of the company’s stock are sold short. Based on an average trading volume of 84,100 shares, the short-interest ratio is currently 0.6 days.

Analysts Set New Price Targets

BWAY has been the topic of several research reports. HC Wainwright lifted their price target on Brainsway from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Northland Securities set a $30.00 target price on shares of Brainsway in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Brainsway from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Brainsway in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Brainsway Trading Down 1.2%

NASDAQ BWAY opened at $23.14 on Friday. Brainsway has a 12 month low of $7.84 and a 12 month high of $26.63. The stock’s fifty day moving average price is $22.45 and its 200-day moving average price is $18.14. The stock has a market cap of $453.78 million, a P/E ratio of 77.13 and a beta of 1.20.

Shares of Brainsway are going to split on the morning of Tuesday, March 3rd. The 2-1 split was recently announced. The newly minted shares will be issued to shareholders after the closing bell on Monday, March 2nd.

Hedge Funds Weigh In On Brainsway

A number of hedge funds have recently added to or reduced their stakes in the company. Man Group plc lifted its position in Brainsway by 4.5% in the 4th quarter. Man Group plc now owns 18,027 shares of the company’s stock valued at $343,000 after acquiring an additional 782 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Brainsway in the fourth quarter worth $245,000. Royal Bank of Canada lifted its holdings in shares of Brainsway by 1,145.9% during the fourth quarter. Royal Bank of Canada now owns 8,410 shares of the company’s stock valued at $160,000 after purchasing an additional 7,735 shares in the last quarter. Bullseye Asset Management LLC purchased a new stake in shares of Brainsway during the fourth quarter valued at $299,000. Finally, ARK Investment Management LLC bought a new stake in Brainsway in the 4th quarter worth about $2,422,000. 30.11% of the stock is currently owned by hedge funds and other institutional investors.

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.