Byrna Technologies (NASDAQ:BYRN) Reaches New 12-Month High – Still a Buy?

Byrna Technologies Inc. (NASDAQ:BYRN) shares reached a new 52-week high on Tuesday . The company traded as high as $22.44 and last traded at $22.06, with a volume of 323020 shares traded. The stock had previously closed at $18.92.

Analyst Upgrades and Downgrades

BYRN has been the subject of a number of analyst reports. Roth Capital raised shares of Byrna Technologies to a “strong-buy” rating in a research note on Wednesday, August 28th. Roth Mkm reaffirmed a “buy” rating and set a $20.00 price objective on shares of Byrna Technologies in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $17.75.

Byrna Technologies Trading Up 6.5 %

The firm has a market cap of $458.57 million, a P/E ratio of 227.78 and a beta of 1.80. The stock has a 50 day simple moving average of $17.23 and a 200-day simple moving average of $13.57.

Byrna Technologies (NASDAQ:BYRN) last announced its quarterly earnings results on Wednesday, October 9th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05. Byrna Technologies had a net margin of 3.12% and a return on equity of 5.58%. The company had revenue of $20.85 million for the quarter, compared to analysts’ expectations of $20.82 million. As a group, equities analysts forecast that Byrna Technologies Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Byrna Technologies

In other news, CFO Laurilee Kearnes bought 2,000 shares of Byrna Technologies stock in a transaction dated Thursday, October 10th. The shares were acquired at an average price of $14.04 per share, with a total value of $28,080.00. Following the completion of the purchase, the chief financial officer now owns 2,500 shares in the company, valued at $35,100. The trade was a 400.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lisa Wager sold 2,450 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $17.01, for a total transaction of $41,674.50. Following the completion of the sale, the insider now directly owns 224,555 shares of the company’s stock, valued at approximately $3,819,680.55. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,474 shares of company stock valued at $183,954. Insiders own 11.08% of the company’s stock.

Institutional Investors Weigh In On Byrna Technologies

Several hedge funds and other institutional investors have recently modified their holdings of BYRN. Barclays PLC grew its position in Byrna Technologies by 321.5% in the 3rd quarter. Barclays PLC now owns 24,719 shares of the company’s stock valued at $419,000 after acquiring an additional 18,855 shares during the last quarter. State Street Corp grew its holdings in shares of Byrna Technologies by 36.9% in the third quarter. State Street Corp now owns 314,315 shares of the company’s stock worth $5,334,000 after purchasing an additional 84,723 shares during the last quarter. Centiva Capital LP purchased a new position in Byrna Technologies in the 3rd quarter worth about $286,000. Verition Fund Management LLC lifted its holdings in Byrna Technologies by 113.9% during the 3rd quarter. Verition Fund Management LLC now owns 34,018 shares of the company’s stock valued at $577,000 after buying an additional 18,118 shares in the last quarter. Finally, Walleye Capital LLC lifted its holdings in Byrna Technologies by 1.3% during the 3rd quarter. Walleye Capital LLC now owns 52,379 shares of the company’s stock valued at $889,000 after buying an additional 665 shares in the last quarter. 25.46% of the stock is currently owned by hedge funds and other institutional investors.

About Byrna Technologies

Byrna Technologies Inc, a non-lethal defense technology company, provides non-lethal alternative solutions for law enforcement and private security. The company offers handheld personal security devices and shoulder-fired launchers without the need for background check or firearm license; and projectiles including chemical irritant, kinetic, and inert rounds.