B. Riley Financial Issues Pessimistic Forecast for Byrna Technologies (NASDAQ:BYRN) Stock Price

Key Points

• B. Riley cut its price target for Byrna Technologies from $46 to $31 but maintained a "buy" rating, implying roughly a 203.18% upside from the current share price.
• The analyst consensus remains a Buy with an average price target of $36.67, although Zacks recently downgraded the stock to a "Hold."
• Shares trade around $10.23 (52-week range $10.42–$34.30) with a $231.8M market cap; the company recently beat quarterly estimates (EPS $0.14 vs. $0.13) and has about 25.46% institutional ownership.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) had its price target lowered by equities researchers at B. Riley Financial from $46.00 to $31.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. B. Riley Financial's price objective indicates a potential upside of 203.18% from the stock's current price.

Separately, Zacks Research cut Byrna Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $36.67.

Byrna Technologies Stock Performance

Shares of BYRN opened at $10.23 on Tuesday. Byrna Technologies has a 52-week low of $10.42 and a 52-week high of $34.30. The stock has a market capitalization of $231.80 million, a price-to-earnings ratio of 25.66 and a beta of 2.30. The stock's 50-day simple moving average is $14.59 and its 200 day simple moving average is $17.97.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Byrna Technologies had a return on equity of 16.14% and a net margin of 8.20%.The firm had revenue of $35.25 million for the quarter, compared to analyst estimates of $34.92 million. On average, research analysts forecast that Byrna Technologies will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. raised its holdings in Byrna Technologies by 138.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,157 shares of the company's stock valued at $26,000 after buying an additional 672 shares during the period. Comerica Bank acquired a new stake in Byrna Technologies during the fourth quarter worth approximately $40,000. AlphaQuest LLC increased its position in shares of Byrna Technologies by 1,825.8% during the third quarter. AlphaQuest LLC now owns 1,868 shares of the company's stock worth $41,000 after purchasing an additional 1,771 shares in the last quarter. NBC Securities Inc. increased its stake in Byrna Technologies by 226.4% in the fourth quarter. NBC Securities Inc. now owns 2,611 shares of the company's stock valued at $44,000 after purchasing an additional 1,811 shares during the period. Finally, Byrne Asset Management LLC acquired a new position in shares of Byrna Technologies in the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 25.46% of the company's stock.

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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