Byrna Technologies Inc. (NASDAQ:BYRN) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Byrna Technologies has a “Moderate Buy” consensus rating from six analysts, with a $7.875 average 12-month price target. Ratings are mixed, including three holds, one buy, and two strong buys.
• The stock opened at $3.78, well below its 12-month high of $30.62. The company also missed quarterly expectations, reporting a $0.44 loss per share versus a $0.10 consensus loss and revenue of $16.39 million versus $22.32 million expected.
• Company insiders purchased 71,258 shares worth approximately $261,855 during the latest quarter, while institutional investors own 25.46% of Byrna’s outstanding stock.

Shares of Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) have been given an average rating of "Moderate Buy" by the six analysts that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $7.8750.

Several equities research analysts have recently commented on BYRN shares. B. Riley Financial reduced their price target on shares of Byrna Technologies from $21.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Zacks Research upgraded shares of Byrna Technologies from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 8th. Roth Capital lowered shares of Byrna Technologies from a "buy" rating to a "neutral" rating and set a $4.50 price objective on the stock. in a report on Friday, July 10th. Finally, Wall Street Zen downgraded shares of Byrna Technologies from a "sell" rating to a "strong sell" rating in a research note on Sunday, July 12th.

Byrna Technologies Trading Up 1.9%

Shares of Byrna Technologies stock opened at $3.78 on Friday. The firm has a market cap of $88.49 million, a P/E ratio of -21.00 and a beta of 1.76. Byrna Technologies has a 12 month low of $3.16 and a 12 month high of $30.62. The stock's fifty day moving average price is $3.87 and its 200-day moving average price is $6.00.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last released its quarterly earnings data on Thursday, July 9th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.34). Byrna Technologies had a negative net margin of 3.39% and a negative return on equity of 5.85%. The firm had revenue of $16.39 million during the quarter, compared to the consensus estimate of $22.32 million. Analysts forecast that Byrna Technologies will post -0.63 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman TJ Kennedy purchased 29,000 shares of Byrna Technologies stock in a transaction dated Wednesday, July 22nd. The stock was purchased at an average cost of $3.53 per share, with a total value of $102,370.00. Following the transaction, the chairman owned 29,000 shares in the company, valued at approximately $102,370. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chris Reed acquired 8,150 shares of the firm's stock in a transaction that occurred on Friday, July 24th. The shares were bought at an average price of $3.63 per share, with a total value of $29,584.50. Following the completion of the purchase, the director directly owned 61,720 shares in the company, valued at $224,043.60. The trade was a 15.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 71,258 shares of company stock worth $261,855 over the last quarter. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Byrna Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Connors Investor Services Inc. bought a new position in Byrna Technologies in the fourth quarter worth about $168,000. Demars Financial Group LLC bought a new stake in shares of Byrna Technologies in the 1st quarter valued at about $112,000. Hsbc Holdings PLC purchased a new position in shares of Byrna Technologies in the 1st quarter worth approximately $115,000. Bank of New York Mellon Corp purchased a new position in shares of Byrna Technologies in the 2nd quarter worth approximately $86,000. Finally, Corient Private Wealth LP bought a new position in shares of Byrna Technologies during the 2nd quarter worth approximately $95,000. Hedge funds and other institutional investors own 25.46% of the company's stock.

About Byrna Technologies

Byrna Technologies Inc is a developer and manufacturer of non-lethal personal security products. The company's portfolio is centered on compact, handheld launchers designed to provide an alternative to conventional firearms for personal protection, security, and law-enforcement applications.

Byrna's products include its CO2-powered launchers, chemical irritant projectiles, kinetic rounds, training ammunition, holsters, optics, and other accessories. Its chemical projectiles are designed to disperse irritants such as pepper and tear gas, while kinetic rounds are intended for less-lethal impact applications.

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