Alpine Global Management LLC Takes Position in Byrna Technologies Inc. $BYRN

Key Points

• Alpine Global Management LLC has invested approximately $281,000 in Byrna Technologies, acquiring 16,674 shares during the first quarter.
• Analyst ratings for Byrna Technologies have been positive, with Roth Capital raising its price target from $33.00 to $37.00, and B. Riley increasing its target to $46.00.
• Byrna Technologies reported earnings of $0.10 per share, beating expectations, with revenues of $28.51 million for the quarter.

Alpine Global Management LLC acquired a new position in shares of Byrna Technologies Inc. (NASDAQ:BYRN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,674 shares of the company's stock, valued at approximately $281,000. Alpine Global Management LLC owned 0.07% of Byrna Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BYRN. JPMorgan Chase & Co. raised its holdings in shares of Byrna Technologies by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 8,109 shares of the company's stock valued at $234,000 after purchasing an additional 484 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Byrna Technologies by 17.9% during the fourth quarter. Wells Fargo & Company MN now owns 11,180 shares of the company's stock worth $322,000 after buying an additional 1,700 shares in the last quarter. Barclays PLC raised its stake in shares of Byrna Technologies by 10.8% during the fourth quarter. Barclays PLC now owns 27,396 shares of the company's stock valued at $790,000 after acquiring an additional 2,677 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Byrna Technologies by 120.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 83,801 shares of the company's stock valued at $2,414,000 after acquiring an additional 45,730 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new position in shares of Byrna Technologies during the 4th quarter worth approximately $297,000. 25.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BYRN shares. 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. Roth Capital lifted their price target on shares of Byrna Technologies from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Wolfe Research upgraded shares of Byrna Technologies to a "strong-buy" rating in a report on Friday, June 6th. Finally, B. Riley reiterated a "buy" rating and issued a $46.00 price objective (up previously from $39.00) on shares of Byrna Technologies in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $38.75.

Byrna Technologies Price Performance

BYRN stock traded down $0.49 during mid-day trading on Wednesday, reaching $20.31. The company had a trading volume of 332,259 shares, compared to its average volume of 421,304. The firm has a 50 day moving average of $23.49 and a 200 day moving average of $23.50. Byrna Technologies Inc. has a 12 month low of $11.52 and a 12 month high of $34.78. The company has a market capitalization of $461.04 million, a PE ratio of 32.76 and a beta of 2.02.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last released its quarterly earnings data on Thursday, July 10th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. The business had revenue of $28.51 million for the quarter, compared to the consensus estimate of $28.47 million. Byrna Technologies had a net margin of 14.28% and a return on equity of 16.96%. Analysts anticipate that Byrna Technologies Inc. will post 0.28 EPS for the current year.

Byrna Technologies 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.