Byrna Technologies (NASDAQ:BYRN) Announces Earnings Results

Key Points

• Byrna Technologies reported earnings of $0.09 per share for the quarter, surpassing the consensus estimate of $0.05, with a return on equity of 16.96% and a net margin of 14.28%.
• The stock opened at $22.80, with a market cap of $517.56 million, and has seen significant recent activity as several hedge funds adjusted their positions.
• Analysts have high hopes for Byrna Technologies, with upgrades and price target increases, resulting in a consensus rating of "Buy" and an average price target of $38.75.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.05 by $0.04, RTT News reports. Byrna Technologies had a return on equity of 16.96% and a net margin of 14.28%.During the same period in the previous year, the firm earned $0.04 earnings per share.

Byrna Technologies Stock Up 0.8%

Shares of Byrna Technologies stock opened at $22.80 on Thursday. The firm has a market cap of $517.56 million, a PE ratio of 36.77 and a beta of 2.05. Byrna Technologies has a fifty-two week low of $13.10 and a fifty-two week high of $34.78. The business's fifty day moving average is $20.83 and its two-hundred day moving average is $23.03.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in shares of Byrna Technologies by 178.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,058 shares of the company's stock worth $94,000 after acquiring an additional 1,960 shares during the last quarter. Strs Ohio bought a new position in shares of Byrna Technologies during the first quarter worth about $113,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Byrna Technologies in the first quarter valued at approximately $173,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Byrna Technologies by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,305 shares of the company's stock valued at $174,000 after acquiring an additional 468 shares in the last quarter. Finally, State of Wyoming bought a new position in Byrna Technologies in the 2nd quarter valued at about $179,000. 25.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BYRN has been the topic of several recent analyst reports. Roth Capital upped their price target on Byrna Technologies from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. LADENBURG THALM/SH SH upgraded Byrna Technologies to a "strong-buy" rating in a research note on Wednesday, October 1st. Craig Hallum began coverage on shares of Byrna Technologies in a report on Wednesday, July 16th. They set a "buy" rating and a $39.00 price target for the company. Finally, B. Riley reissued a "buy" rating and set a $46.00 target price (up previously from $39.00) on shares of Byrna Technologies in a research report on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, Byrna Technologies presently has a consensus rating of "Buy" and an average price target of $38.75.

About Byrna Technologies

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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