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

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wolfe Research raised shares of Byrna Technologies to a "strong-buy" rating in a research report on Friday, June 6th. Roth Capital reaffirmed a "buy" rating and issued a $37.00 target price (up previously from $33.00) on shares of Byrna Technologies in a research report on Wednesday. Roth Mkm reiterated a "buy" rating and set a $33.00 target price on shares of Byrna Technologies in a report on Thursday, March 20th. Finally, B. Riley raised their price target on Byrna Technologies from $39.00 to $46.00 and gave the company a "buy" rating in a research note on Friday.

Byrna Technologies Price Performance

The stock has a 50-day moving average price of $27.79 and a 200-day moving average price of $25.66. The company has a market capitalization of $522.68 million, a price-to-earnings ratio of 37.78 and a beta of 2.02.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last released its quarterly earnings data on Thursday, July 10th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. The firm had revenue of $28,505 billion for the quarter, compared to the consensus estimate of $28.47 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 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Emily Rooney acquired 2,500 shares of the stock in a transaction on Tuesday, April 22nd. The shares were purchased at an average price of $20.50 per share, for a total transaction of $51,250.00. Following the transaction, the director directly owned 37,564 shares of the company's stock, valued at approximately $770,062. This represents a 7.13% increase in their ownership of the stock. 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

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of Byrna Technologies by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 138,445 shares of the company's stock valued at $3,989,000 after buying an additional 2,899 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Byrna Technologies in the 4th quarter valued at $2,741,000. HighTower Advisors LLC bought a new stake in shares of Byrna Technologies during the 4th quarter valued at $1,249,000. Vanguard Group Inc. lifted its position in shares of Byrna Technologies by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 1,001,759 shares of the company's stock valued at $28,861,000 after acquiring an additional 73,954 shares during the period. Finally, McCollum Christoferson Group LLC grew its holdings in shares of Byrna Technologies by 116.7% during the 4th quarter. McCollum Christoferson Group LLC now owns 94,320 shares of the company's stock worth $2,717,000 after purchasing an additional 50,800 shares in the last quarter. 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.