Byrna Technologies (NASDAQ:BYRN) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Byrna Technologies from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with a $7.88 target price.
• Byrna shares opened at $3.59, near their one-year low of $3.16, after the company reported a quarterly loss of $0.44 per share and revenue of $16.39 million, both below analyst expectations.
• Company insiders purchased 71,258 shares worth approximately $261,855 over the past 90 days, while institutional investors and hedge funds own 25.46% of the stock.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

A number of other research analysts have also recently weighed in on BYRN. Wall Street Zen cut shares of Byrna Technologies from a "sell" rating to a "strong sell" rating in a report on Sunday, July 12th. B. Riley Financial dropped their price objective on Byrna Technologies from $21.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Finally, Roth Capital cut shares of Byrna Technologies from a "buy" rating to a "neutral" rating and set a $4.50 price objective on the stock. in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Byrna Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.88.

Byrna Technologies Price Performance

Shares of Byrna Technologies stock opened at $3.59 on Tuesday. The stock's 50 day simple moving average is $4.16 and its 200-day simple moving average is $6.39. The stock has a market cap of $84.04 million, a P/E ratio of -19.94 and a beta of 1.76. Byrna Technologies has a 1-year low of $3.16 and a 1-year high of $30.62.

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

Insider Activity at Byrna Technologies

In related news, Director Leonard J. Elmore bought 10,000 shares of the stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $4.64 per share, for a total transaction of $46,400.00. Following the completion of the transaction, the director owned 60,811 shares of the company's stock, valued at $282,163.04. This represents a 19.68% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Tj Kennedy purchased 29,000 shares of Byrna Technologies stock in a transaction dated Wednesday, July 22nd. The shares were bought at an average price of $3.53 per share, with a total value of $102,370.00. Following the completion of the transaction, the chairman owned 29,000 shares in the company, valued at approximately $102,370. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 71,258 shares of company stock worth $261,855 in the last ninety days. Corporate insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Comerica Bank purchased a new position in shares of Byrna Technologies in the 4th quarter worth $40,000. Russell Investments Group Ltd. increased its stake in Byrna Technologies by 89.6% during the third quarter. Russell Investments Group Ltd. now owns 2,215 shares of the company's stock worth $49,000 after acquiring an additional 1,047 shares during the last quarter. Quarry LP purchased a new position in shares of Byrna Technologies in the 3rd quarter worth about $70,000. Bank of New York Mellon Corp purchased a new position in Byrna Technologies in the second quarter valued at approximately $86,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Byrna Technologies by 178.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,058 shares of the company's stock valued at $94,000 after acquiring an additional 1,960 shares in the last quarter. 25.46% of the stock is currently owned by institutional investors and hedge funds.

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.

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