Byrna Technologies (NASDAQ:BYRN) Shares Gap Up on Better-Than-Expected Earnings

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $25.42, but opened at $26.76. Byrna Technologies shares last traded at $24.55, with a volume of 262,508 shares.

The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates 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 16.96% and a net margin of 14.28%.

Analyst Ratings Changes

Several research firms have recently weighed in on BYRN. Roth Mkm reiterated a "buy" rating and set a $33.00 price objective on shares of Byrna Technologies in a report on Thursday, March 20th. B. Riley reiterated a "buy" rating and issued a $46.00 price target (up from $39.00) on shares of Byrna Technologies in a research note on Friday. Roth Capital reaffirmed a "buy" rating and set a $37.00 price target (up previously from $33.00) on shares of Byrna Technologies in a research report on Wednesday, July 9th. Finally, Wolfe Research raised shares of Byrna Technologies to a "strong-buy" rating in a report on Friday, June 6th.

Insider Transactions at Byrna Technologies

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

Hedge Funds Weigh In On Byrna Technologies

A number of hedge funds have recently bought and sold shares of BYRN. Quarry LP acquired a new stake in shares of Byrna Technologies during the 4th quarter worth $25,000. Russell Investments Group Ltd. bought a new stake in Byrna Technologies during the fourth quarter worth about $29,000. AlphaQuest LLC grew its stake in 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 buying an additional 1,719 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Byrna Technologies during the first quarter worth about $32,000. Finally, BNP Paribas Financial Markets bought a new position in Byrna Technologies in the 4th quarter valued at about $65,000. 25.46% of the stock is owned by institutional investors.

Byrna Technologies Trading Down 2.0%

The firm's 50-day moving average price is $27.77 and its 200 day moving average price is $25.56. The company has a market capitalization of $510.48 million, a price-to-earnings ratio of 36.31 and a beta of 2.02.

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.