Byrna Technologies (NASDAQ:BYRN) Sees Unusually-High Trading Volume on Strong Earnings

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) saw strong trading volume on Thursday following a stronger than expected earnings report. 658,692 shares were traded 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 EPS for the quarter, topping the consensus estimate of $0.03 by $0.07. The business had revenue of $28,505 billion for the quarter, compared to analysts' expectations of $28.47 million. Byrna Technologies had a return on equity of 16.96% and a net margin of 15.15%.

Analysts Set New Price Targets

A number of equities analysts have commented on BYRN shares. Wolfe Research raised shares of Byrna Technologies to a "strong-buy" rating in a report on Friday, June 6th. Roth Mkm restated a "buy" rating and issued a $33.00 price target on shares of Byrna Technologies in a research report on Thursday, March 20th. 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. Finally, B. Riley increased their price objective on shares of Byrna Technologies from $39.00 to $46.00 and gave the stock a "buy" rating in a research note on Friday.

Insider Activity at Byrna Technologies

In related news, Director Emily Rooney acquired 2,500 shares of Byrna Technologies stock in a transaction dated Tuesday, April 22nd. The stock was acquired 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 in the company, valued at $770,062. The trade was a 7.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Byrna Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers increased its stake in Byrna Technologies by 5.0% in the 1st quarter. Rhumbline Advisers now owns 23,590 shares of the company's stock worth $397,000 after purchasing an additional 1,129 shares in the last quarter. Strs Ohio purchased a new position in shares of Byrna Technologies in the first quarter worth approximately $113,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Byrna Technologies in the first quarter worth approximately $173,000. Millennium Management LLC raised its holdings in shares of Byrna Technologies by 247.9% during the first quarter. Millennium Management LLC now owns 326,670 shares of the company's stock valued at $5,501,000 after acquiring an additional 232,770 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $174,000 after acquiring an additional 468 shares in the last quarter. 25.46% of the stock is owned by institutional investors and hedge funds.

Byrna Technologies Trading Down 9.3%

The company's 50-day moving average is $27.79 and its 200 day moving average is $25.66. The firm has a market cap of $522.68 million, a PE ratio of 37.78 and a beta of 2.02.

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.