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

Byrna Technologies (NASDAQ:BYRN - Get Free Report) released its earnings results on Thursday. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.07, RTT News reports. The company had revenue of $28,505 billion during the quarter, compared to the consensus estimate of $28.47 million. Byrna Technologies had a net margin of 14.28% and a return on equity of 16.96%.

Byrna Technologies Trading Down 9.6%

Byrna Technologies stock traded down $2.45 during midday trading on Friday, reaching $22.97. 2,257,962 shares of the stock traded hands, compared to its average volume of 536,212. The firm has a fifty day moving average price of $27.77 and a two-hundred day moving average price of $25.56. The firm has a market cap of $520.91 million, a price-to-earnings ratio of 37.05 and a beta of 2.02. Byrna Technologies has a fifty-two week low of $7.79 and a fifty-two week high of $34.78.

Analyst Upgrades and Downgrades

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

Insider Transactions at Byrna Technologies

In other news, Director Emily Rooney bought 2,500 shares of Byrna Technologies stock in a transaction on Tuesday, April 22nd. The stock was purchased at an average cost of $20.50 per share, with a total value of $51,250.00. Following the purchase, the director directly owned 37,564 shares of the company's stock, valued at approximately $770,062. This trade represents a 7.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 9.75% of the stock is owned by insiders.

Institutional Trading of Byrna Technologies

A number of institutional investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in shares of Byrna Technologies by 247.9% in the 1st 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 period. Royal Bank of Canada lifted its stake in shares of Byrna Technologies by 21.3% in the 1st quarter. Royal Bank of Canada now owns 23,373 shares of the company's stock worth $393,000 after acquiring an additional 4,108 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Byrna Technologies by 4.8% in the 1st 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 period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Byrna Technologies in the 1st quarter worth approximately $173,000. Finally, Strs Ohio acquired a new stake in shares of Byrna Technologies in the 1st quarter worth approximately $113,000. 25.46% of the stock is owned by institutional investors and hedge funds.

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.