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

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report)'s stock price gapped up before the market opened on Friday following a better than expected earnings announcement. 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 traded.

The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. Byrna Technologies had a net margin of 15.15% and a return on equity of 16.96%. The company had revenue of $28,505 billion during the quarter, compared to the consensus estimate of $28.47 million.

Wall Street Analysts Forecast Growth

BYRN has been the subject of a number of recent analyst reports. B. Riley reiterated a "buy" rating and set a $39.00 price target (up from $38.00) on shares of Byrna Technologies in a report on Friday, June 6th. Roth Capital reissued a "buy" rating and issued a $37.00 target price (up from $33.00) on shares of Byrna Technologies in a research note on Wednesday. Roth Mkm reaffirmed a "buy" rating and set a $33.00 price target on shares of Byrna Technologies in a research report on Thursday, March 20th. Finally, Wolfe Research upgraded Byrna Technologies to a "strong-buy" rating in a report on Friday, June 6th.

Insider Buying and Selling 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 bought at an average price of $20.50 per share, with a total value of $51,250.00. Following the completion of the transaction, the director directly owned 37,564 shares of the company's stock, valued at approximately $770,062. The trade was a 7.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.75% of the stock is owned by insiders.

Institutional Trading of Byrna Technologies

Institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. bought a new stake in shares of Byrna Technologies in the fourth quarter worth $942,000. Nuveen Asset Management LLC raised its holdings in Byrna Technologies by 1,039.5% in the 4th quarter. Nuveen Asset Management LLC now owns 266,239 shares of the company's stock worth $7,670,000 after purchasing an additional 242,875 shares during the period. BNP Paribas Financial Markets purchased a new stake in Byrna Technologies during the 4th quarter valued at approximately $65,000. Raymond James Financial Inc. bought a new stake in Byrna Technologies in the 4th quarter worth approximately $2,741,000. Finally, Russell Investments Group Ltd. purchased a new stake in Byrna Technologies during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 25.46% of the company's stock.

Byrna Technologies Trading Down 2.0%

The business's 50 day simple moving average is $27.79 and its 200 day simple moving average is $25.66. The firm has a market capitalization of $565.14 million, a PE ratio of 40.51 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.

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