Byrna Technologies Inc. (NASDAQ:BYRN) Stock Short Interest Report for October

Byrna Technologies Inc. (NASDAQ:BYRN) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 2,024,506 shares, an increase of 93.5% from the September 30th total of 1,046,526 shares. Currently, 8.8% of the company’s shares are sold short. Based on an average trading volume of 867,575 shares, the days-to-cover ratio is currently 2.3 days.

Insiders Place Their Bets

In other Byrna Technologies news, Director Leonard J. Elmore bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $4.64 per share, for a total transaction of $46,400.00. Following the transaction, the director directly owned 60,811 shares in the company, valued at $282,163.04. This trade represents a 19.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Adam L. Roth purchased 10,000 shares of the stock in a transaction on Thursday, October 15th. The stock was acquired at an average cost of $4.77 per share, with a total value of $47,700.00. Following the completion of the purchase, the director directly owned 19,379 shares of the company’s stock, valued at $92,437.83. The trade was a 106.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 25,000 shares of company stock valued at $116,750 in the last ninety days. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Byrna Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Emerald Advisers LLC grew its position in shares of Byrna Technologies by 165.7% in the 1st quarter. Emerald Advisers LLC now owns 432,626 shares of the company’s stock worth $3,972,000 after buying an additional 269,817 shares during the period. Renaissance Technologies LLC grew its stake in shares of Byrna Technologies by 496.5% in the 1st quarter. Renaissance Technologies LLC now owns 382,327 shares of the company’s stock worth $3,510,000 after buying an additional 318,227 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in Byrna Technologies by 184.9% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 320,151 shares of the company’s stock valued at $2,939,000 after buying an additional 207,781 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Byrna Technologies by 9.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 289,720 shares of the company’s stock valued at $2,659,000 after buying an additional 25,188 shares in the last quarter. Finally, Quantinno Capital Management LP raised its stake in Byrna Technologies by 125.7% during the first quarter. Quantinno Capital Management LP now owns 43,340 shares of the company’s stock valued at $398,000 after buying an additional 24,141 shares during the last quarter. Hedge funds and other institutional investors own 25.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BYRN. Craig Hallum restated a “hold” rating and set a $3.50 target price on shares of Byrna Technologies in a report on Friday, October 9th. Roth Capital cut Byrna Technologies from a “buy” rating to a “neutral” rating and set a $4.50 price target on the stock. in a research note on Friday, July 10th. Wall Street Zen upgraded Byrna Technologies from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 10th. Zacks Research raised Byrna Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 8th. Finally, B. Riley Financial cut their target price on shares of Byrna Technologies from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.62.

Byrna Technologies Stock Down 2.3%

Shares of Byrna Technologies stock traded down $0.10 during trading on Monday, reaching $4.20. 104,786 shares of the stock were exchanged, compared to its average volume of 589,077. The stock’s fifty day moving average is $3.98 and its 200 day moving average is $7.03. The firm has a market cap of $98.32 million, a price-to-earnings ratio of -10.50 and a beta of 1.81. Byrna Technologies has a 1 year low of $3.16 and a 1 year high of $21.19.

Byrna Technologies (NASDAQ:BYRN) last announced its quarterly earnings results on Thursday, October 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. Byrna Technologies had a negative return on equity of 14.46% and a negative net margin of 9.20%. The company had revenue of $15.30 million for the quarter, compared to the consensus estimate of $16.27 million. Equities analysts forecast that Byrna Technologies will post -0.65 earnings per share for the current year.

About Byrna Technologies

Byrna Technologies Inc is a developer and manufacturer of non-lethal personal security products. The company’s product portfolio is centered on compact, CO2-powered launchers designed to provide an alternative to traditional firearms for personal protection, home security and professional use.

Byrna offers launchers, projectiles and related accessories, including chemical-irritant, kinetic and training ammunition. Its products are marketed through direct-to-consumer and wholesale channels and are intended for consumers, private security personnel, law enforcement agencies and other professional users.

The company was previously known as Security Devices International before adopting the Byrna Technologies name.