Byrna Technologies (NASDAQ:BYRN) Shares Down 4.5% - Should You Sell?

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report)'s share price was down 4.5% on Tuesday . The stock traded as low as $26.06 and last traded at $26.08. Approximately 97,643 shares changed hands during trading, a decline of 80% from the average daily volume of 493,414 shares. The stock had previously closed at $27.30.

Analyst Ratings Changes

Separately, Roth Mkm reissued a "buy" rating and set a $33.00 price target on shares of Byrna Technologies in a research report on Thursday, March 20th.

Byrna Technologies Price Performance

The firm has a 50-day simple moving average of $21.97 and a two-hundred day simple moving average of $24.14. The company has a market cap of $602.26 million, a PE ratio of 49.20 and a beta of 2.11.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last released its quarterly earnings results on Thursday, April 10th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. The company had revenue of $26.19 million during the quarter, compared to the consensus estimate of $23.26 million. Byrna Technologies had a return on equity of 15.39% and a net margin of 14.92%. Equities research analysts forecast that Byrna Technologies Inc. will post 0.28 EPS for the current year.

Insider Activity

In other Byrna Technologies news, Director Emily Rooney acquired 2,500 shares of the 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 completion of the transaction, the director now directly owns 37,564 shares in the company, valued at approximately $770,062. This trade represents a 7.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 11.08% of the company's stock.

Institutional Investors Weigh In On Byrna Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in BYRN. SG Americas Securities LLC purchased a new stake in shares of Byrna Technologies in the fourth quarter valued at $134,000. New York State Common Retirement Fund boosted its holdings in Byrna Technologies by 2,200.0% in the fourth quarter. New York State Common Retirement Fund now owns 6,900 shares of the company's stock valued at $199,000 after acquiring an additional 6,600 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Byrna Technologies in the fourth quarter valued at $30,000. Bank of New York Mellon Corp boosted its holdings in 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 acquiring an additional 2,899 shares during the last quarter. Finally, NCP Inc. acquired a new position in Byrna Technologies in the fourth quarter valued at $37,000. Hedge funds and other institutional investors 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.