Byrna Technologies (NASDAQ:BYRN) Trading 8.3% Higher - Here's Why

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report)'s share price shot up 8.3% during trading on Wednesday . The company traded as high as $23.27 and last traded at $23.49. 119,512 shares were traded during trading, a decline of 78% from the average session volume of 552,630 shares. The stock had previously closed at $21.68.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BYRN. Roth Capital lifted their price objective on Byrna Technologies from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wolfe Research upgraded Byrna Technologies to a "strong-buy" rating in a research report on Friday, June 6th. B. Riley restated a "buy" rating and issued a $46.00 target price (up previously from $39.00) on shares of Byrna Technologies in a research report on Friday, July 11th. Finally, Craig Hallum began coverage on Byrna Technologies in a research report on Wednesday, July 16th. They issued a "buy" rating and a $39.00 target price on the stock. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $38.75.

Byrna Technologies Stock Up 0.5%

The company has a market cap of $536.86 million, a PE ratio of 38.15 and a beta of 2.02. The stock has a 50-day simple moving average of $27.61 and a 200 day simple moving average of $25.15.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last posted its earnings results on Thursday, July 10th. The company reported $0.10 EPS 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%. As a group, research analysts anticipate that Byrna Technologies Inc. will post 0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Byrna Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Byrna Technologies in the 4th quarter valued at $25,000. Russell Investments Group Ltd. purchased a new stake in shares of Byrna Technologies in the 4th quarter valued at $29,000. AlphaQuest LLC raised its holdings 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 valued at $31,000 after buying an additional 1,719 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Byrna Technologies in the 1st quarter valued at $32,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Byrna Technologies in the 4th quarter valued at $65,000. Hedge funds and other institutional investors own 25.46% of the company's stock.

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.