Byrna Technologies (NASDAQ:BYRN) Trading Up 5.3% - Should You Buy?

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) shares rose 5.3% on Wednesday . The company traded as high as $24.26 and last traded at $23.35. Approximately 296,507 shares were traded during trading, a decline of 45% from the average daily volume of 540,524 shares. The stock had previously closed at $22.18.

Wall Street Analyst Weigh In

BYRN has been the subject of a number of recent analyst reports. B. Riley reaffirmed a "buy" rating and set a $46.00 price target (up from $39.00) on shares of Byrna Technologies in a report on Friday, July 11th. Wolfe Research raised shares of Byrna Technologies to a "strong-buy" rating in a report on Friday, June 6th. Roth Capital reaffirmed a "buy" rating and set a $37.00 price target (up from $33.00) on shares of Byrna Technologies in a report on Wednesday, July 9th. Finally, Craig Hallum initiated coverage on shares of Byrna Technologies in a report on Wednesday. They set a "buy" rating and a $39.00 price target for the company. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $38.75.

Byrna Technologies Stock Performance

The company has a market capitalization of $493.50 million, a price-to-earnings ratio of 35.06 and a beta of 2.02. The company's fifty day simple moving average is $27.80 and its two-hundred day simple moving average is $25.34.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.07. Byrna Technologies had a net margin of 14.28% and a return on equity of 16.96%. The company had revenue of $28,505 billion during the quarter, compared to analyst estimates of $28.47 million. Sell-side analysts anticipate that Byrna Technologies Inc. will post 0.28 EPS for the current year.

Insiders Place Their Bets

In other news, Director Emily Rooney acquired 2,500 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The shares were purchased at an average cost of $20.50 per share, for a total transaction of $51,250.00. Following the transaction, the director directly owned 37,564 shares in the company, valued at $770,062. This trade represents a 7.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Byrna Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of Byrna Technologies during the 4th quarter worth about $25,000. Russell Investments Group Ltd. acquired a new position in shares of Byrna Technologies in the 4th quarter worth approximately $29,000. AlphaQuest LLC grew its stake in shares of Byrna Technologies by 1,772.2% in the 1st 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 acquired a new position in shares of Byrna Technologies in the 1st quarter worth approximately $32,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Byrna Technologies in the 4th quarter worth approximately $65,000. 25.46% of the stock is currently owned by institutional investors.

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.