Byrna Technologies (NASDAQ:BYRN) Releases Earnings Results, Beats Expectations By $0.07 EPS

Byrna Technologies (NASDAQ:BYRN - Get Free Report) announced its earnings results on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.07, RTT News reports. Byrna Technologies had a return on equity of 17.63% and a net margin of 14.28%. The company had revenue of $28,505 billion for the quarter, compared to analyst estimates of $28.47 million.

Byrna Technologies Trading Down 9.6%

Shares of BYRN stock traded down $2.45 during mid-day trading on Friday, reaching $22.97. The stock had a trading volume of 2,257,962 shares, compared to its average volume of 535,042. The business's fifty day moving average is $27.77 and its 200-day moving average is $25.62. The firm has a market cap of $520.96 million, a price-to-earnings ratio of 37.05 and a beta of 2.02. Byrna Technologies has a 1-year low of $7.79 and a 1-year high of $34.78.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BYRN. Roth Mkm reaffirmed a "buy" rating and set a $33.00 target price on shares of Byrna Technologies in a research report on Thursday, March 20th. Wolfe Research raised Byrna Technologies to a "strong-buy" rating in a research report on Friday, June 6th. Roth Capital reaffirmed a "buy" rating and set a $37.00 target price (up from $33.00) on shares of Byrna Technologies in a research report on Wednesday. Finally, B. Riley upped their target price on Byrna Technologies from $39.00 to $46.00 and gave the company a "buy" rating in a research report on Friday.

Insider Buying and Selling at Byrna Technologies

In other news, Director Emily Rooney acquired 2,500 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were acquired at an average cost of $20.50 per share, with a total value of $51,250.00. Following the completion of the acquisition, the director owned 37,564 shares of the company's stock, valued at approximately $770,062. This trade represents a 7.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 9.75% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BYRN. Millennium Management LLC increased its holdings in shares of Byrna Technologies by 247.9% in the first 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 period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Byrna Technologies in the first quarter valued at about $173,000. Strs Ohio acquired a new position in shares of Byrna Technologies in the first quarter valued at about $113,000. Royal Bank of Canada boosted its stake in shares of Byrna Technologies by 21.3% in the first 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. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 buying an additional 468 shares during the last quarter. 25.46% of the stock is owned by institutional investors and hedge funds.

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.