Byrna Technologies Inc. (NASDAQ:BYRN) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Consensus "Buy": Seven brokerages rate Byrna Technologies an average "Buy" (breakdown: 3 strong buy, 2 buy, 2 hold) with an average 1‑year target of about $12.13.
• Notable institutional activity: Millennium Management increased its stake by 247.9% to 326,670 shares (~$5.5M) while Royal Bank of Canada and others also boosted holdings, with institutions owning about 25.46% of the company.
• Recent results and stock metrics: Byrna missed Q1 estimates with $0.03 EPS vs $0.05 expected and $29.05M revenue vs $30.21M consensus; the stock trades around $6.49, has a market cap of ~$147.3M and a 1‑year range of $5.56–$34.30.

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) has been assigned an average recommendation of "Buy" from the seven brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and three have issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $12.1250.

BYRN has been the topic of several research analyst reports. New Street Research set a $7.50 price target on shares of Byrna Technologies in a research report on Friday, April 10th. Roth Mkm reduced their target price on Byrna Technologies from $26.00 to $12.50 and set a "buy" rating on the stock in a report on Friday, April 10th. Craig Hallum downgraded Byrna Technologies from a "buy" rating to a "hold" rating and set a $7.50 target price on the stock. in a report on Friday, April 10th. Wall Street Zen downgraded Byrna Technologies from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Texas Capital raised Byrna Technologies to a "strong-buy" rating in a report on Tuesday, March 24th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BYRN. Royal Bank of Canada lifted its holdings in Byrna Technologies by 21.3% during the 1st quarter. Royal Bank of Canada now owns 23,373 shares of the company's stock worth $393,000 after buying an additional 4,108 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Byrna Technologies by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,305 shares of the company's stock worth $174,000 after acquiring an additional 468 shares during the last quarter. Millennium Management LLC lifted its holdings in Byrna Technologies by 247.9% in the first quarter. Millennium Management LLC now owns 326,670 shares of the company's stock worth $5,501,000 after acquiring an additional 232,770 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Byrna Technologies in the first quarter worth about $173,000. Finally, Strs Ohio bought a new position in Byrna Technologies in the first quarter worth about $113,000. Institutional investors own 25.46% of the company's stock.

Byrna Technologies Price Performance

NASDAQ:BYRN opened at $6.49 on Tuesday. The firm has a 50-day moving average of $10.22 and a two-hundred day moving average of $15.41. The stock has a market cap of $147.26 million, a P/E ratio of 18.03 and a beta of 2.46. Byrna Technologies has a 1-year low of $5.56 and a 1-year high of $34.30.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last issued its quarterly earnings results on Thursday, April 9th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). Byrna Technologies had a return on equity of 14.14% and a net margin of 7.30%.The company had revenue of $29.05 million for the quarter, compared to the consensus estimate of $30.21 million. During the same period in the previous year, the business posted $0.07 EPS. As a group, equities analysts expect that Byrna Technologies will post 0.03 earnings per share for the current year.

Byrna Technologies Company Profile

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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