Byrna Technologies (NASDAQ:BYRN) Shares Down 4.8% – Time to Sell?

Byrna Technologies Inc. (NASDAQ:BYRN)’s stock price fell 4.8% on Tuesday . The company traded as low as $24.33 and last traded at $24.39. 279,399 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 488,045 shares. The stock had previously closed at $25.61.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reissued a “buy” rating and set a $33.00 price target on shares of Byrna Technologies in a report on Thursday, March 20th.

Byrna Technologies Stock Performance

The stock’s fifty day moving average price is $20.16 and its 200-day moving average price is $23.51. The firm has a market cap of $564.41 million, a PE ratio of 46.11 and a beta of 2.18.

Byrna Technologies (NASDAQ:BYRN) last released its quarterly earnings results on Thursday, April 10th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. The business had revenue of $26.19 million during the quarter, compared to the consensus estimate of $23.26 million. Byrna Technologies had a return on equity of 15.39% and a net margin of 14.92%. Sell-side analysts forecast that Byrna Technologies Inc. will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Emily Rooney acquired 2,500 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was bought at an average cost of $20.50 per share, with a total value of $51,250.00. Following the purchase, the director now directly owns 37,564 shares of the company’s stock, valued at approximately $770,062. This represents a 7.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lisa Wager sold 12,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $29.38, for a total value of $367,250.00. Following the completion of the transaction, the insider now owns 212,055 shares in the company, valued at approximately $6,230,175.90. This trade represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.08% of the company’s stock.

Institutional Investors Weigh In On Byrna Technologies

A number of large investors have recently added to or reduced their stakes in BYRN. Hennion & Walsh Asset Management Inc. bought a new position in Byrna Technologies during the 4th quarter valued at $616,000. Raymond James Financial Inc. acquired a new stake in Byrna Technologies during the fourth quarter worth about $2,741,000. Russell Investments Group Ltd. bought a new position in Byrna Technologies in the fourth quarter worth about $29,000. HighTower Advisors LLC acquired a new position in Byrna Technologies in the fourth quarter valued at approximately $1,249,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Byrna Technologies by 120.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 83,801 shares of the company’s stock valued at $2,414,000 after purchasing an additional 45,730 shares during the last quarter. 25.46% of the stock is owned by institutional investors and hedge funds.

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.