BRAINSWAY LTD/S (NASDAQ:BWAY) Sees Large Drop in Short Interest

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BRAINSWAY LTD/S (NASDAQ:BWAY) was the recipient of a large drop in short interest in the month of August. As of August 14th, there was short interest totalling 300 shares, a drop of 94.0% from the July 30th total of 5,000 shares. Based on an average daily volume of 5,800 shares, the short-interest ratio is currently 0.1 days.

Several brokerages have recently commented on BWAY. Raymond James decreased their price objective on shares of BRAINSWAY LTD/S from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 13th. Zacks Investment Research downgraded shares of BRAINSWAY LTD/S from a “buy” rating to a “hold” rating in a research report on Thursday, June 25th. Oppenheimer restated a “buy” rating and set a $13.00 price objective on shares of BRAINSWAY LTD/S in a research report on Wednesday, June 24th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $13.00 price objective on shares of BRAINSWAY LTD/S in a research report on Friday, August 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $10.69.

Large investors have recently modified their holdings of the business. Meitav Dash Investments Ltd. grew its stake in shares of BRAINSWAY LTD/S by 78.8% in the 2nd quarter. Meitav Dash Investments Ltd. now owns 20,424 shares of the company’s stock worth $120,000 after buying an additional 9,000 shares in the last quarter. Phoenix Holdings Ltd. grew its stake in shares of BRAINSWAY LTD/S by 3.8% in the 1st quarter. Phoenix Holdings Ltd. now owns 321,895 shares of the company’s stock worth $2,496,000 after buying an additional 11,895 shares in the last quarter. Finally, Cowen AND Company LLC purchased a new position in shares of BRAINSWAY LTD/S in the 1st quarter worth $2,734,000. 17.37% of the stock is owned by institutional investors and hedge funds.

NASDAQ BWAY traded down $0.16 on Thursday, reaching $6.84. The company had a trading volume of 3,400 shares, compared to its average volume of 6,760. The stock has a market capitalization of $74.01 million, a PE ratio of -17.10 and a beta of 0.85. The firm’s 50 day moving average price is $6.08 and its 200 day moving average price is $7.88. BRAINSWAY LTD/S has a 12 month low of $5.10 and a 12 month high of $12.53.

BRAINSWAY LTD/S (NASDAQ:BWAY) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.09. BRAINSWAY LTD/S had a negative net margin of 42.27% and a negative return on equity of 38.87%. Equities research analysts expect that BRAINSWAY LTD/S will post -0.31 earnings per share for the current fiscal year.

BRAINSWAY LTD/S Company Profile

Brainsway Ltd. engages in the development and provision of technology solutions for non-invasive treatment of brain disorders in Israel and internationally. It offers deep transcranial magnetic stimulation systems for treating various conditions, including autism, Alzheimer's disease, bipolar disorders, chronic pains, depressive disorders, Parkinson's diseases, schizophrenia, smoking cessation, post-traumatic stress disorders, multiple sclerosis, obsessive compulsive disorders, and stroke rehabilitation.

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