Byrna Technologies (NASDAQ:BYRN) Stock Rating Upgraded by Zacks Research

Key Points

• Byrna Technologies was upgraded from a "hold" to a "strong-buy" rating by Zacks Research, indicating increased analyst confidence in the stock.
• Multiple firms have set high target prices for Byrna, with B. Riley raising its target to $46.00 and Roth Capital setting it at $40.00, reflecting positive sentiment from analysts.
• The company reported $0.09 earnings per share for the last quarter, exceeding expectations, and plans to post an estimated $0.28 EPS for the current fiscal year.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Roth Capital set a $40.00 target price on Byrna Technologies and gave the company a "buy" rating in a research note on Friday. Craig Hallum initiated coverage on Byrna Technologies in a research note on Wednesday, July 16th. They issued a "buy" rating and a $39.00 target price on the stock. B. Riley reiterated a "buy" rating and issued a $46.00 target price (up from $39.00) on shares of Byrna Technologies in a research note on Friday, July 11th. Finally, LADENBURG THALM/SH SH upgraded shares of Byrna Technologies to a "strong-buy" rating in a research note on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Byrna Technologies currently has an average rating of "Buy" and an average target price of $39.50.

Byrna Technologies Stock Performance

BYRN stock opened at $24.95 on Monday. The stock has a market capitalization of $567.11 million, a price-to-earnings ratio of 37.24 and a beta of 2.05. Byrna Technologies has a 1 year low of $13.68 and a 1 year high of $34.78. The stock's fifty day moving average is $21.15 and its two-hundred day moving average is $23.28.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last posted its earnings results on Thursday, October 9th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.04. The company had revenue of $28.18 million for the quarter, compared to analysts' expectations of $28.00 million. Byrna Technologies had a return on equity of 18.13% and a net margin of 14.43%.During the same period last year, the business posted $0.04 earnings per share. As a group, analysts predict that Byrna Technologies will post 0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Byrna Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of BYRN. GAMMA Investing LLC grew its holdings in Byrna Technologies by 3,377.2% during the first quarter. GAMMA Investing LLC now owns 4,277 shares of the company's stock worth $72,000 after acquiring an additional 4,154 shares during the period. Rhumbline Advisers grew its holdings in Byrna Technologies by 5.0% during the first quarter. Rhumbline Advisers now owns 23,590 shares of the company's stock worth $397,000 after acquiring an additional 1,129 shares during the period. Silverleafe Capital Partners LLC grew its holdings in Byrna Technologies by 9.8% during the first quarter. Silverleafe Capital Partners LLC now owns 13,453 shares of the company's stock worth $227,000 after acquiring an additional 1,200 shares during the period. Alps Advisors Inc. acquired a new position in Byrna Technologies during the first quarter worth about $313,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Byrna Technologies during the first quarter worth about $359,000. 25.46% of the stock is currently owned by institutional investors.

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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