Byrna Technologies (NASDAQ:BYRN) Stock Price Down 5.9% - Here's What Happened

Shares of Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) were down 5.9% on Tuesday . The stock traded as low as $31.35 and last traded at $31.57. Approximately 357,154 shares changed hands during trading, a decline of 31% from the average daily volume of 517,577 shares. The stock had previously closed at $33.56.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BYRN shares. B. Riley reaffirmed a "buy" rating and set a $39.00 target price (up previously from $38.00) on shares of Byrna Technologies in a research note on Friday, June 6th. Roth Mkm reissued a "buy" rating and set a $33.00 price objective on shares of Byrna Technologies in a report on Thursday, March 20th. Finally, Wolfe Research raised shares of Byrna Technologies to a "strong-buy" rating in a report on Friday, June 6th.

Byrna Technologies Stock Performance

The business's 50-day moving average is $27.34 and its two-hundred day moving average is $25.60. The stock has a market capitalization of $729.62 million, a PE ratio of 52.74 and a beta of 2.02.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last issued its earnings results on Thursday, April 10th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. The company had revenue of $26.19 million for the quarter, compared to analyst estimates of $23.26 million. Byrna Technologies had a net margin of 15.15% and a return on equity of 16.96%. Equities analysts forecast that Byrna Technologies Inc. will post 0.28 EPS for the current year.

Insider Activity at Byrna Technologies

In other news, Director Emily Rooney purchased 2,500 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was acquired at an average price of $20.50 per share, with a total value of $51,250.00. Following the purchase, the director directly owned 37,564 shares of the company's stock, valued at $770,062. This represents a 7.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 9.75% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Byrna Technologies during the 4th quarter worth $25,000. Russell Investments Group Ltd. acquired a new position in Byrna Technologies in the 4th quarter valued at about $29,000. AlphaQuest LLC raised its stake in 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 purchasing an additional 1,719 shares during the last quarter. Summit Securities Group LLC acquired a new position in Byrna Technologies in the 1st quarter valued at about $32,000. Finally, BNP Paribas Financial Markets acquired a new position in Byrna Technologies in the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 25.46% of the company's stock.

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.

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