Byrna Technologies Inc. (NASDAQ:BYRN) Receives Average Recommendation of “Moderate Buy” from Analysts

Byrna Technologies Inc. (NASDAQ:BYRN) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.8750.

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

Byrna Technologies Price Performance

Shares of Byrna Technologies stock opened at $3.69 on Monday. The company has a market capitalization of $83.73 million, a price-to-earnings ratio of -20.50 and a beta of 1.83. The stock’s 50-day simple moving average is $4.77 and its 200-day simple moving average is $7.27. Byrna Technologies has a 52 week low of $3.16 and a 52 week high of $30.62.

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

Insider Activity at Byrna Technologies

In other news, Director Leonard J. Elmore acquired 10,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was purchased at an average price of $4.64 per share, for a total transaction of $46,400.00. Following the completion of the transaction, the director directly owned 60,811 shares in the company, valued at approximately $282,163.04. This trade represents a 19.68% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Tj Kennedy bought 29,000 shares of Byrna Technologies stock in a transaction dated Wednesday, July 22nd. The stock was purchased at an average cost of $3.53 per share, for a total transaction of $102,370.00. Following the completion of the acquisition, the chairman directly owned 29,000 shares of the company’s stock, valued at approximately $102,370. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 71,258 shares of company stock worth $261,855 over the last 90 days. Company insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BYRN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Byrna Technologies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,305 shares of the company’s stock valued at $174,000 after purchasing an additional 468 shares during the period. Tidal Investments LLC increased its stake in Byrna Technologies by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 12,363 shares of the company’s stock worth $382,000 after buying an additional 576 shares during the period. JPMorgan Chase & Co. lifted its holdings in Byrna Technologies by 9.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 9,110 shares of the company’s stock valued at $281,000 after buying an additional 822 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Byrna Technologies by 89.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,215 shares of the company’s stock valued at $49,000 after buying an additional 1,047 shares during the period. Finally, Geode Capital Management LLC boosted its position in Byrna Technologies by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 440,843 shares of the company’s stock valued at $7,403,000 after buying an additional 1,126 shares during the period. 25.46% of the stock is currently owned by institutional investors.

Byrna Technologies Company Profile

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.