Byrna Technologies Inc. (NASDAQ:BYRN) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Byrna Technologies Inc. has received a consensus rating of "Buy" from six brokerages, with an average price target of $38.75.
• Several institutional investors significantly increased their holdings in Byrna, including Driehaus Capital Management, which raised its stake by 39.3% in the first quarter.
• Byrna Technologies reported earnings of $0.10 per share, exceeding estimates, with a revenue of $28.51 million for the last quarter.

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) has been assigned a consensus rating of "Buy" from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $38.75.

BYRN has been the topic of a number of research analyst reports. Roth Capital raised their price target on Byrna Technologies from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. B. Riley reiterated a "buy" rating and set a $46.00 price objective (up from $39.00) on shares of Byrna Technologies in a research note on Friday, July 11th. LADENBURG THALM/SH SH upgraded Byrna Technologies to a "strong-buy" rating in a report on Wednesday. Craig Hallum assumed coverage on Byrna Technologies in a research note on Wednesday, July 16th. They issued a "buy" rating and a $39.00 price target on the stock. Finally, Wolfe Research raised Byrna Technologies to a "strong-buy" rating in a report on Friday, June 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Driehaus Capital Management LLC increased its holdings in shares of Byrna Technologies by 39.3% during the 1st quarter. Driehaus Capital Management LLC now owns 449,848 shares of the company's stock worth $7,575,000 after buying an additional 126,894 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Byrna Technologies by 27.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 436,322 shares of the company's stock valued at $13,474,000 after purchasing an additional 93,626 shares during the last quarter. Geode Capital Management LLC increased its holdings in Byrna Technologies by 7.4% in the 2nd quarter. Geode Capital Management LLC now owns 431,849 shares of the company's stock valued at $13,338,000 after purchasing an additional 29,666 shares during the last quarter. Invesco Ltd. acquired a new stake in Byrna Technologies in the 2nd quarter valued at approximately $13,079,000. Finally, Millennium Management LLC increased its holdings in 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 purchasing an additional 232,770 shares during the last quarter. 25.46% of the stock is owned by hedge funds and other institutional investors.

Byrna Technologies Stock Down 1.0%

Shares of NASDAQ:BYRN opened at $22.25 on Friday. Byrna Technologies has a 52-week low of $13.10 and a 52-week high of $34.78. The company has a market capitalization of $505.08 million, a price-to-earnings ratio of 35.89 and a beta of 2.05. The company has a 50 day moving average of $20.84 and a two-hundred day moving average of $22.91.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.05. The business had revenue of $28.51 million for the quarter, compared to analysts' expectations of $28.47 million. Byrna Technologies had a net margin of 14.28% and a return on equity of 16.96%. On average, equities analysts anticipate that Byrna Technologies will post 0.28 earnings per share for the current year.

Byrna Technologies Company Profile

Byrna Technologies Inc, a non-lethal defense technology company, provides non-lethal alternative solutions for law enforcement and private security. The company offers handheld personal security devices and shoulder-fired launchers without the need for background check or firearm license; and projectiles including chemical irritant, kinetic, and inert rounds.

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