Bank of America Corp DE Cuts Stake in Byrna Technologies Inc. (NASDAQ:BYRN)

Bank of America Corp DE lessened its stake in shares of Byrna Technologies Inc. (NASDAQ:BYRN - Free Report) by 83.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,754 shares of the company's stock after selling 42,975 shares during the quarter. Bank of America Corp DE's holdings in Byrna Technologies were worth $252,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Research Global Investors acquired a new position in Byrna Technologies during the 4th quarter worth approximately $47,203,000. Invesco Ltd. lifted its position in shares of Byrna Technologies by 72.4% during the fourth quarter. Invesco Ltd. now owns 697,655 shares of the company's stock worth $20,099,000 after purchasing an additional 293,049 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Byrna Technologies in the fourth quarter valued at $2,741,000. Vanguard Group Inc. boosted its stake in shares of Byrna Technologies by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 1,001,759 shares of the company's stock valued at $28,861,000 after purchasing an additional 73,954 shares during the period. Finally, Archon Capital Management LLC acquired a new stake in Byrna Technologies during the 4th quarter valued at $2,010,000. Hedge funds and other institutional investors own 25.46% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wolfe Research upgraded shares of Byrna Technologies to a "strong-buy" rating in a report on Friday, June 6th. Roth Mkm reiterated a "buy" rating and issued a $33.00 price target on shares of Byrna Technologies in a research note on Thursday, March 20th. Finally, B. Riley restated a "buy" rating and set a $39.00 price objective (up previously from $38.00) on shares of Byrna Technologies in a research note on Friday, June 6th.

Insider Activity

In other Byrna Technologies news, Director Emily Rooney acquired 2,500 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The shares were purchased at an average price of $20.50 per share, for a total transaction of $51,250.00. Following the completion of the purchase, the director now directly owns 37,564 shares in the company, valued at $770,062. The trade was a 7.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 11.08% of the company's stock.

Byrna Technologies Price Performance

NASDAQ BYRN opened at $29.82 on Friday. The company has a market capitalization of $675.93 million, a price-to-earnings ratio of 55.22 and a beta of 2.11. Byrna Technologies Inc. has a 12 month low of $7.79 and a 12 month high of $34.78. The company's fifty day moving average price is $23.68 and its two-hundred day moving average price is $24.58.

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

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.

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