Byrna Technologies (NASDAQ:BYRN) Trading Down 5.3% - Time to Sell?

Key Points

• Byrna Technologies shares fell by 5.3% and traded at approximately $24.95, with a significant drop in trading volume, indicating a potential decline in investor interest.
• Despite the stock's recent downturn, several analysts maintain a positive outlook, with ratings ranging from "buy" to "strong buy" and price targets between $39.00 and $46.00.
• In its latest earnings report, Byrna Technologies exceeded expectations with an EPS of $0.09, up from $0.04 in the previous year, alongside revenues of $28.18 million.

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) shares were down 5.3% during trading on Monday . The company traded as low as $24.83 and last traded at $24.95. Approximately 314,045 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 589,959 shares. The stock had previously closed at $26.36.

Wall Street Analysts Forecast Growth

BYRN has been the topic of several research analyst reports. Craig Hallum initiated coverage on Byrna Technologies in a research note on Wednesday, July 16th. They issued a "buy" rating and a $39.00 price objective on the stock. B. Riley reiterated a "buy" rating and issued a $46.00 price objective (up from $39.00) on shares of Byrna Technologies in a report on Friday, July 11th. LADENBURG THALM/SH SH raised shares of Byrna Technologies to a "strong-buy" rating in a research report on Wednesday, October 1st. Finally, Roth Capital set a $40.00 target price on shares of Byrna Technologies and gave the stock a "buy" rating in a report on Friday. Two analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $39.50.

Byrna Technologies Price Performance

The company has a market capitalization of $553.75 million, a price-to-earnings ratio of 36.36 and a beta of 2.05. The business's 50-day moving average price is $21.04 and its two-hundred day moving average price is $23.22.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last announced its quarterly earnings data 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. Byrna Technologies had a net margin of 14.43% and a return on equity of 18.13%. The business had revenue of $28.18 million for the quarter, compared to analysts' expectations of $28.00 million. During the same period last year, the firm posted $0.04 earnings per share. As a group, research analysts predict that Byrna Technologies Inc. will post 0.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of Byrna Technologies by 3,377.2% during the 1st quarter. GAMMA Investing LLC now owns 4,277 shares of the company's stock valued at $72,000 after purchasing an additional 4,154 shares during the last quarter. Rhumbline Advisers grew its stake in shares of 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 buying an additional 1,129 shares during the last quarter. Silverleafe Capital Partners LLC grew its stake in shares of 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 buying an additional 1,200 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of Byrna Technologies in the 1st quarter valued at $313,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Byrna Technologies in the 1st quarter valued at $359,000. Institutional investors and hedge funds 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.

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