Byrna Technologies (NASDAQ:BYRN) Trading Down 12.9% – Here’s What Happened

Byrna Technologies Inc. (NASDAQ:BYRN) shares dropped 12.9% during trading on Thursday . The company traded as low as $28.34 and last traded at $27.97. Approximately 467,093 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 533,728 shares. The stock had previously closed at $32.10.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reissued a “buy” rating and issued a $20.00 price target on shares of Byrna Technologies in a research report on Wednesday, October 30th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $17.75.

Byrna Technologies Stock Down 9.5 %

The company has a market capitalization of $657.78 million, a PE ratio of 53.68 and a beta of 1.65. The company’s 50 day moving average is $29.14 and its two-hundred day moving average is $20.28.

Byrna Technologies (NASDAQ:BYRN) last announced its quarterly earnings results on Friday, February 7th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.12. Byrna Technologies had a net margin of 14.92% and a return on equity of 15.39%. Analysts forecast that Byrna Technologies Inc. will post 0.28 EPS for the current year.

Insider Activity at Byrna Technologies

In other news, insider Luan Pham sold 33,483 shares of Byrna Technologies stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $30.19, for a total transaction of $1,010,851.77. Following the completion of the sale, the insider now directly owns 19,148 shares in the company, valued at approximately $578,078.12. The trade was a 63.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 11.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BYRN. State of Wyoming acquired a new position in Byrna Technologies during the fourth quarter worth $180,000. Malaga Cove Capital LLC purchased a new position in shares of Byrna Technologies in the fourth quarter valued at approximately $236,000. Man Group plc purchased a new position in shares of Byrna Technologies in the fourth quarter worth about $1,779,000. Nuveen Asset Management LLC grew its holdings in shares of Byrna Technologies by 1,039.5% during the 4th quarter. Nuveen Asset Management LLC now owns 266,239 shares of the company’s stock worth $7,670,000 after purchasing an additional 242,875 shares during the period. Finally, Occudo Quantitative Strategies LP lifted its stake in Byrna Technologies by 12.5% during the fourth quarter. Occudo Quantitative Strategies LP now owns 18,641 shares of the company’s stock worth $537,000 after purchasing an additional 2,067 shares in the last quarter. 25.46% of the stock is owned by institutional investors and hedge funds.

Byrna Technologies Company Profile

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.