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

Shares of Byrna Technologies Inc. (NASDAQ:BYRN) have been given a consensus recommendation of “Buy” by the seven research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $29.6667.

BYRN has been the topic of a number of recent research reports. B. Riley Financial cut their target price on shares of Byrna Technologies from $46.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Texas Capital upgraded shares of Byrna Technologies to a “strong-buy” rating in a research note on Tuesday. Zacks Research lowered shares of Byrna Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $18.00 target price on shares of Byrna Technologies in a report on Tuesday, March 10th.

Byrna Technologies Stock Down 3.9%

Shares of NASDAQ BYRN opened at $9.05 on Friday. The business has a 50-day moving average price of $12.60 and a 200 day moving average price of $17.04. The stock has a market cap of $205.16 million, a PE ratio of 22.63 and a beta of 2.30. Byrna Technologies has a 52-week low of $8.85 and a 52-week high of $34.30.

Byrna Technologies (NASDAQ:BYRN) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $35.25 million for the quarter, compared to analyst estimates of $34.92 million. Byrna Technologies had a return on equity of 16.14% and a net margin of 8.20%. Sell-side analysts anticipate that Byrna Technologies will post 0.28 earnings per share for the current year.

Institutional Trading of Byrna Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in BYRN. Royal Bank of Canada boosted its holdings in Byrna Technologies by 21.3% in the 1st quarter. Royal Bank of Canada now owns 23,373 shares of the company’s stock valued at $393,000 after purchasing an additional 4,108 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Byrna Technologies by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,305 shares of the company’s stock worth $174,000 after buying an additional 468 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Byrna Technologies by 247.9% in the 1st quarter. Millennium Management LLC now owns 326,670 shares of the company’s stock valued at $5,501,000 after buying an additional 232,770 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Byrna Technologies in the 1st quarter valued at approximately $173,000. Finally, Strs Ohio purchased a new stake in shares of Byrna Technologies in the first quarter valued at approximately $113,000. 25.46% of the stock is owned by hedge funds and other institutional investors.

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.