Roth Capital Reaffirms "Buy" Rating for Byrna Technologies (NASDAQ:BYRN)

Byrna Technologies (NASDAQ:BYRN - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Roth Capital in a report issued on Wednesday, Marketbeat Ratings reports. They presently have a $37.00 price target on the stock, up from their prior price target of $33.00. Roth Capital's price target points to a potential upside of 61.08% from the company's current price.

Several other equities analysts also recently commented on the company. Wolfe Research raised Byrna Technologies to a "strong-buy" rating in a research report on Friday, June 6th. Roth Mkm reissued a "buy" rating and set a $33.00 price target on shares of Byrna Technologies in a research report on Thursday, March 20th. Finally, B. Riley reissued a "buy" rating and set a $39.00 price target (up previously from $38.00) on shares of Byrna Technologies in a research report on Friday, June 6th.

Byrna Technologies Stock Performance

Byrna Technologies stock traded down $2.45 during mid-day trading on Wednesday, hitting $22.97. The company's stock had a trading volume of 2,257,962 shares, compared to its average volume of 536,212. The company has a 50 day moving average of $27.77 and a 200-day moving average of $25.60. The stock has a market cap of $520.96 million, a PE ratio of 37.05 and a beta of 2.02. Byrna Technologies has a one year low of $7.79 and a one year high of $34.78.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. The company had revenue of $28,505 billion for the quarter, compared to the consensus estimate of $28.47 million. Byrna Technologies had a return on equity of 17.63% and a net margin of 14.28%. On average, equities research analysts forecast that Byrna Technologies will post 0.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Emily Rooney purchased 2,500 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were acquired at an average price of $20.50 per share, with a total value of $51,250.00. Following the transaction, the director owned 37,564 shares of the company's stock, valued at $770,062. This represents a 7.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.75% of the company's stock.

Institutional Investors Weigh In On Byrna Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors bought a new stake in Byrna Technologies during the fourth quarter valued at about $47,203,000. Vanguard Group Inc. boosted its position in Byrna Technologies by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 1,001,759 shares of the company's stock valued at $28,861,000 after purchasing an additional 73,954 shares in the last quarter. Invesco Ltd. boosted its position in Byrna Technologies by 72.4% during the fourth quarter. Invesco Ltd. now owns 697,655 shares of the company's stock valued at $20,099,000 after purchasing an additional 293,049 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Byrna Technologies by 39.3% during the first quarter. Driehaus Capital Management LLC now owns 449,848 shares of the company's stock valued at $7,575,000 after purchasing an additional 126,894 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Byrna Technologies by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 396,616 shares of the company's stock valued at $11,430,000 after purchasing an additional 5,184 shares in the last quarter. Institutional investors own 25.46% of the company's stock.

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.