Byrna Technologies (NASDAQ:BYRN) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Byrna Technologies from “strong sell” to “sell,” while the broader analyst consensus remains “Moderate Buy” with a $6.88 price target.
• Byrna’s latest quarter showed mixed results: its $0.13-per-share loss beat estimates, but revenue fell to $15.3 million from $28.2 million year over year and missed expectations, while the company remained unprofitable.
• Shares opened at $4.52, well below their 52-week high of $30.62. Directors bought additional shares, and institutional investors own approximately 25.5% of the company.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently weighed in on BYRN. 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. Zacks Research upgraded shares of Byrna Technologies from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 8th. B. Riley Financial dropped their price target on Byrna Technologies from $21.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, Craig Hallum restated a "hold" rating and issued a $3.50 price target on shares of Byrna Technologies in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $6.88.

Byrna Technologies Stock Performance

Shares of NASDAQ:BYRN opened at $4.52 on Friday. The firm has a market capitalization of $105.81 million, a P/E ratio of -11.30 and a beta of 1.70. The stock has a 50 day moving average price of $3.84 and a 200-day moving average price of $5.24. Byrna Technologies has a 52-week low of $3.16 and a 52-week high of $30.62.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last released its quarterly earnings results on Thursday, October 8th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. The company had revenue of $15.30 million for the quarter, compared to analyst estimates of $16.27 million. Byrna Technologies had a negative return on equity of 14.01% and a negative net margin of 9.20%. On average, equities analysts forecast that Byrna Technologies will post -0.63 EPS for the current fiscal year.

Insider Activity

In other news, Director Chris Reed acquired 8,150 shares of Byrna Technologies stock in a transaction on Friday, July 24th. The stock was acquired at an average cost of $3.63 per share, for a total transaction of $29,584.50. Following the purchase, the director owned 61,720 shares in the company, valued at $224,043.60. This trade represents a 15.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leonard J. Elmore bought 10,000 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $4.64 per share, with a total value of $46,400.00. Following the completion of the acquisition, the director directly owned 60,811 shares of the company's stock, valued at approximately $282,163.04. The trade was a 19.68% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 71,258 shares of company stock worth $261,855. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Byrna Technologies

Institutional investors have recently made changes to their positions in the company. Demars Financial Group LLC purchased a new position in Byrna Technologies in the 1st quarter worth approximately $112,000. Hsbc Holdings PLC purchased a new stake in Byrna Technologies during the 1st quarter valued at $115,000. Bank of New York Mellon Corp purchased a new stake in Byrna Technologies during the 2nd quarter valued at $86,000. Corient Private Wealth LP bought a new stake in shares of Byrna Technologies in the 2nd quarter worth $95,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Byrna Technologies in the second quarter worth $106,000. Hedge funds and other institutional investors own 25.46% of the company's stock.

More Byrna Technologies News

Here are the key news stories impacting Byrna Technologies this week:

• Positive Sentiment: EPS beat expectations: Byrna reported a loss of $0.13 per share, better than the consensus estimate of a $0.16 loss. The company also reported a 79% gross margin, helped by a one-time $2.3 million tariff refund. Byrna Technologies earnings report
• Positive Sentiment: Inventory reduction and insider buying provide support: Management is targeting a $2 million to $3 million inventory reduction in the fourth quarter. Separately, reported insider activity showed purchases and no sales over the past six months, which may signal management confidence. Byrna inventory and margin update
• Neutral Sentiment: Acquisition adds potential but execution risk: Byrna completed its acquisition of HERO Defense Systems during the quarter. The deal could broaden its product offering, but investors will watch whether it contributes enough revenue to offset current weakness.
• Negative Sentiment: Revenue and profitability deteriorated sharply: Third-quarter revenue fell to $15.3 million from $28.2 million a year earlier and missed analyst expectations of $16.27 million. Byrna posted a $2.9 million net loss versus $2.2 million of net income in the prior-year quarter, while operating expenses increased 7% to $15.1 million. Cash and marketable securities totaled only $9.4 million, increasing concern about financial flexibility. Byrna fiscal third-quarter results
• Negative Sentiment: Investor sentiment remains mixed: Reports indicated that the stock weakened after the revenue miss and expanding loss. The supplied short-interest update lists zero shares short, despite describing a significant increase, suggesting the data may be inconsistent and should not be treated as a reliable bullish or bearish signal.

Byrna Technologies Company Profile

Byrna Technologies Inc is a personal-security company that develops and sells less-lethal protection products for consumers, security professionals and law enforcement agencies. The company's product portfolio is centered on handheld launchers designed to provide an alternative to conventional firearms for personal protection and other security applications.

Byrna's products include compact launchers, projectiles and related accessories. Its ammunition offerings include chemical-irritant rounds, kinetic-impact rounds and inert training rounds, while its product line also includes replacement parts, holsters, storage products and other accessories.

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