Byrna Technologies Inc. (NASDAQ:BYRN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Byrna Technologies Inc. (NASDAQ:BYRN) have been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $7.8750.

A number of analysts have recently weighed in on the company. Wall Street Zen lowered Byrna Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Zacks Research lowered shares of Byrna Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Roth Capital cut shares of Byrna Technologies from a “buy” rating to a “neutral” rating and set a $4.50 price objective for the company. in a research report on Friday, July 10th. B. Riley Financial dropped their target price on shares of Byrna Technologies from $21.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Finally, New Street Research set a $7.50 target price on shares of Byrna Technologies in a research report on Friday, April 10th.

Insider Activity at Byrna Technologies

In related news, Chairman Tj Kennedy acquired 29,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was purchased at an average price of $3.53 per share, for a total transaction of $102,370.00. Following the transaction, the chairman directly owned 29,000 shares of the company’s stock, valued at approximately $102,370. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Conn Q. Davis acquired 18,768 shares of Byrna Technologies stock in a transaction on Wednesday, July 22nd. The shares were purchased at an average cost of $3.46 per share, for a total transaction of $64,937.28. Following the acquisition, the chief executive officer owned 18,768 shares in the company, valued at approximately $64,937.28. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 61,258 shares of company stock valued at $215,455 over the last quarter. Corporate insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Byrna Technologies

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Byrna Technologies by 5.8% during the 4th quarter. State Street Corp now owns 987,936 shares of the company’s stock worth $16,587,000 after purchasing an additional 54,555 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Byrna Technologies by 32.7% in the 4th quarter. Millennium Management LLC now owns 893,268 shares of the company’s stock valued at $14,998,000 after purchasing an additional 220,130 shares during the last quarter. UBS Group AG boosted its stake in shares of Byrna Technologies by 35.8% in the 4th quarter. UBS Group AG now owns 520,616 shares of the company’s stock valued at $8,741,000 after purchasing an additional 137,260 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Byrna Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 440,843 shares of the company’s stock worth $7,403,000 after buying an additional 1,126 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in shares of Byrna Technologies by 401.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 438,292 shares of the company’s stock worth $7,359,000 after buying an additional 350,861 shares during the period. Institutional investors own 25.46% of the company’s stock.

Byrna Technologies Price Performance

NASDAQ BYRN opened at $4.90 on Thursday. The firm has a market cap of $111.18 million, a PE ratio of -27.22 and a beta of 1.83. Byrna Technologies has a one year low of $3.16 and a one year high of $30.62. The stock’s 50 day simple moving average is $5.32 and its 200 day simple moving average is $8.38.

Byrna Technologies (NASDAQ:BYRN) last released its quarterly earnings results on Thursday, July 9th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.34). The business had revenue of $16.39 million for the quarter, compared to analyst estimates of $22.32 million. Byrna Technologies had a negative net margin of 3.39% and a negative return on equity of 5.85%. As a group, equities analysts expect that Byrna Technologies will post -0.63 earnings per share for the current year.

About Byrna Technologies

Byrna Technologies, Inc (NASDAQ: BYRN) designs, develops and markets non-lethal personal security devices and accessories intended to provide an alternative to traditional firearms. The company’s flagship offerings deploy impact projectiles and chemical irritants in a compact, pistol-style form factor. Its product portfolio includes the Byrna SD and Byrna HD launchers, which utilize proprietary kinetic and irritant cartridges, as well as the lightweight Byrna Air, a CO₂-powered variant optimized for close-quarters defense.

In addition to its core self-defense launchers, Byrna Technologies supplies a range of consumables and support products, including cartridges loaded with pepper-based irritants, inert training rounds, holsters, safe-carry cases and speed loaders.