LADENBURG THALM/SH SH Upgrades Byrna Technologies (NASDAQ:BYRN) to Strong-Buy

Byrna Technologies (NASDAQ:BYRN) was upgraded by equities researchers at LADENBURG THALM/SH SH to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts also recently commented on BYRN. Roth Capital upped their price objective on shares of Byrna Technologies from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Craig Hallum started coverage on shares of Byrna Technologies in a report on Wednesday, July 16th. They set a “buy” rating and a $39.00 price target on the stock. Wolfe Research raised shares of Byrna Technologies to a “strong-buy” rating in a report on Friday, June 6th. Finally, B. Riley reissued a “buy” rating and set a $46.00 price target (up from $39.00) on shares of Byrna Technologies in a report on Friday, July 11th. Two equities research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $38.75.

Byrna Technologies Price Performance

BYRN stock opened at $22.25 on Wednesday. The firm’s fifty day simple moving average is $20.84 and its 200-day simple moving average is $22.91. The company has a market capitalization of $505.08 million, a P/E ratio of 35.89 and a beta of 2.05. Byrna Technologies has a 12 month low of $13.10 and a 12 month high of $34.78.

Byrna Technologies (NASDAQ:BYRN) last released its quarterly earnings data on Thursday, July 10th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. The business had revenue of $28.51 million for the quarter, compared to the consensus estimate of $28.47 million. Byrna Technologies had a net margin of 14.28% and a return on equity of 16.96%. As a group, sell-side analysts forecast that Byrna Technologies will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On Byrna Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. raised its position in Byrna Technologies by 188.4% during the second quarter. Osaic Holdings Inc. now owns 103,191 shares of the company’s stock worth $3,186,000 after acquiring an additional 67,406 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in Byrna Technologies during the second quarter worth $360,000. State of Wyoming acquired a new position in Byrna Technologies during the second quarter worth $179,000. Tower Research Capital LLC TRC raised its position in Byrna Technologies by 178.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,058 shares of the company’s stock worth $94,000 after acquiring an additional 1,960 shares during the period. Finally, Tidal Investments LLC raised its position in Byrna Technologies by 4.9% during the second quarter. Tidal Investments LLC now owns 12,363 shares of the company’s stock worth $382,000 after acquiring an additional 576 shares during the period. 25.46% of the stock is currently 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.