AIGH Capital Management LLC Acquires New Stake in Byrna Technologies Inc. $BYRN

Key Points

• AIGH Capital Management LLC acquired a new stake of 394,906 shares in Byrna Technologies (≈$6.63M), representing about 1.74% ownership and making BYRN its 20th largest holding.
• Byrna missed its most recent quarter, reporting $0.03 EPS versus $0.05 expected and $29.05M in revenue versus $30.21M, and its shares trade around $5.75 (1‑year low $5.56) with a $130.47M market cap.
• Analysts are mixed: the consensus rating is a "Buy" with an average price target of $12.13, though several firms have cut targets or downgraded their ratings (e.g., Roth MKM to $12.50, Craig Hallum to $7.50).

AIGH Capital Management LLC acquired a new stake in Byrna Technologies Inc. (NASDAQ:BYRN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 394,906 shares of the company's stock, valued at approximately $6,630,000. Byrna Technologies comprises approximately 1.6% of AIGH Capital Management LLC's investment portfolio, making the stock its 20th biggest holding. AIGH Capital Management LLC owned about 1.74% of Byrna Technologies at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank acquired a new position in Byrna Technologies in the 4th quarter valued at $40,000. UBS Group AG raised its stake in Byrna Technologies by 35.8% in the 4th quarter. UBS Group AG now owns 520,616 shares of the company's stock valued at $8,741,000 after purchasing an additional 137,260 shares during the last quarter. NBC Securities Inc. raised its stake in Byrna Technologies by 226.4% in the 4th quarter. NBC Securities Inc. now owns 2,611 shares of the company's stock valued at $44,000 after purchasing an additional 1,811 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Byrna Technologies in the 4th quarter valued at $275,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Byrna Technologies by 15.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 77,801 shares of the company's stock valued at $1,306,000 after purchasing an additional 10,540 shares during the last quarter. 25.46% of the stock is owned by institutional investors and hedge funds.

Byrna Technologies Stock Performance

Shares of BYRN opened at $5.75 on Friday. The stock has a 50-day simple moving average of $9.11 and a 200-day simple moving average of $14.52. The stock has a market capitalization of $130.47 million, a PE ratio of 15.97 and a beta of 1.81. Byrna Technologies Inc. has a 1 year low of $5.56 and a 1 year high of $34.30.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last announced its quarterly earnings data on Thursday, April 9th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $29.05 million during the quarter, compared to analysts' expectations of $30.21 million. Byrna Technologies had a net margin of 7.30% and a return on equity of 14.14%. During the same quarter in the previous year, the business posted $0.07 EPS. Analysts predict that Byrna Technologies Inc. will post 0.03 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on BYRN shares. Roth Mkm reduced their price objective on Byrna Technologies from $26.00 to $12.50 and set a "buy" rating for the company in a research note on Friday, April 10th. Craig Hallum cut Byrna Technologies from a "buy" rating to a "hold" rating and set a $7.50 target price for the company. in a report on Friday, April 10th. Texas Capital upgraded Byrna Technologies to a "strong-buy" rating in a report on Tuesday, March 24th. B. Riley Financial dropped their target price on Byrna Technologies from $31.00 to $21.00 and set a "buy" rating for the company in a report on Friday, April 10th. Finally, Wall Street Zen cut Byrna Technologies from a "hold" rating to a "sell" rating in a report on Saturday, April 18th. Three analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $12.13.

Byrna Technologies Company Profile

Byrna Technologies, Inc NASDAQ: BYRN designs, develops and markets non-lethal personal security devices and accessories intended to provide an alternative to traditional firearms. The company's flagship offerings deploy impact projectiles and chemical irritants in a compact, pistol-style form factor. Its product portfolio includes the Byrna SD and Byrna HD launchers, which utilize proprietary kinetic and irritant cartridges, as well as the lightweight Byrna Air, a CO₂-powered variant optimized for close-quarters defense.

In addition to its core self-defense launchers, Byrna Technologies supplies a range of consumables and support products, including cartridges loaded with pepper-based irritants, inert training rounds, holsters, safe-carry cases and speed loaders.

Want to see what other hedge funds are holding BYRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Byrna Technologies Inc. (NASDAQ:BYRN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.