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Byrna Technologies (NASDAQ:BYRN) Sees Large Volume Increase After Better-Than-Expected Earnings

Byrna Technologies logo with Business Services background

Shares of Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) saw an uptick in trading volume on Thursday after the company announced better than expected quarterly earnings. 658,692 shares changed hands during mid-day trading, an increase of 18% from the previous session's volume of 556,056 shares.The stock last traded at $25.91 and had previously closed at $32.30.

The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.07. The firm had revenue of $28,505 billion during the quarter, compared to the consensus estimate of $28.47 million. Byrna Technologies had a return on equity of 16.96% and a net margin of 14.28%.

Wall Street Analysts Forecast Growth

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

View Our Latest Report on Byrna Technologies

Insiders Place Their Bets

In other news, Director Emily Rooney acquired 2,500 shares of Byrna Technologies stock in a transaction on Tuesday, April 22nd. The stock was bought at an average price of $20.50 per share, for a total transaction of $51,250.00. Following the completion of the purchase, the director owned 37,564 shares in the company, valued at $770,062. This represents a 7.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.75% of the company's stock.

Institutional Investors Weigh In On Byrna Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Byrna Technologies during the fourth quarter worth approximately $25,000. Russell Investments Group Ltd. purchased a new stake in shares of Byrna Technologies during the fourth quarter worth approximately $29,000. AlphaQuest LLC raised its stake in shares of Byrna Technologies by 1,772.2% during the first quarter. AlphaQuest LLC now owns 1,816 shares of the company's stock worth $31,000 after purchasing an additional 1,719 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Byrna Technologies during the first quarter worth approximately $32,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Byrna Technologies during the fourth quarter worth approximately $65,000. Hedge funds and other institutional investors own 25.46% of the company's stock.

Byrna Technologies Price Performance

The company has a 50 day moving average price of $27.77 and a 200 day moving average price of $25.56. The firm has a market cap of $520.91 million, a PE ratio of 37.05 and a beta of 2.02.

About Byrna Technologies

(Get Free Report)

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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