Byrna Technologies (NASDAQ:BYRN) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

Byrna Technologies Inc. (NASDAQ:BYRN)’s stock price crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $4.03 and traded as high as $4.19. Byrna Technologies shares last traded at $4.16, with a volume of 191,749 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. B. Riley Financial cut their target price on shares of Byrna Technologies from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Craig Hallum reiterated a “hold” rating and issued a $3.50 price target on shares of Byrna Technologies in a research note on Friday, October 9th. Wall Street Zen raised shares of Byrna Technologies from a “strong sell” rating to a “sell” rating in a report on Saturday, October 10th. Finally, Zacks Research raised shares of Byrna Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Byrna Technologies currently has an average rating of “Moderate Buy” and an average price target of $6.62.

Byrna Technologies Trading Down 7.7%

The firm has a market cap of $90.13 million, a P/E ratio of -9.62 and a beta of 1.81. The stock has a 50 day simple moving average of $4.05 and a 200-day simple moving average of $6.47.

Byrna Technologies (NASDAQ:BYRN) last posted its earnings results on Thursday, October 8th. The company reported ($0.13) 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 firm had revenue of $15.30 million during the quarter, compared to the consensus estimate of $16.27 million. As a group, equities analysts forecast that Byrna Technologies Inc. will post -0.65 earnings per share for the current fiscal year.

Insider Activity

In other Byrna Technologies news, Director Adam L. Roth purchased 10,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was purchased at an average price of $4.77 per share, with a total value of $47,700.00. Following the acquisition, the director owned 19,379 shares in the company, valued at approximately $92,437.83. The trade was a 106.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Byrna Technologies

Several large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in Byrna Technologies by 496.5% during the first quarter. Renaissance Technologies LLC now owns 382,327 shares of the company’s stock valued at $3,510,000 after purchasing an additional 318,227 shares during the period. Emerald Advisers LLC lifted its stake 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 valued at $3,972,000 after purchasing an additional 269,817 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Byrna Technologies by 9.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 289,720 shares of the company’s stock valued at $2,659,000 after purchasing an additional 25,188 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Byrna Technologies by 125.7% in the 1st quarter. Quantinno Capital Management LP now owns 43,340 shares of the company’s stock worth $398,000 after purchasing an additional 24,141 shares during the period. Finally, Arkadios Wealth Advisors purchased a new position in shares of Byrna Technologies in the 1st quarter worth approximately $214,000. 25.46% of the stock is owned by institutional investors.

Byrna Technologies Company Profile

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.