Advisors Asset Management Inc. Acquires 21,199 Shares of Byrna Technologies Inc. $BYRN

Key Points

• Advisors Asset Management Inc. increased its stake in Byrna Technologies by 67.7% in Q1, acquiring an additional 21,199 shares to own a total of 52,499 shares valued at $884,000.
• Byrna Technologies reported a quarterly earnings per share (EPS) of $0.10, outperforming the consensus estimate of $0.05, with anticipated EPS for the current year at $0.28.
• Several analysts have issued positive ratings on Byrna Technologies, with B. Riley setting a price target of $46.00, reflecting a strong bullish outlook for the stock.

Advisors Asset Management Inc. raised its holdings in shares of Byrna Technologies Inc. (NASDAQ:BYRN - Free Report) by 67.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,499 shares of the company's stock after buying an additional 21,199 shares during the period. Advisors Asset Management Inc. owned about 0.23% of Byrna Technologies worth $884,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Driehaus Capital Management LLC boosted its position in Byrna Technologies by 39.3% during the first quarter. Driehaus Capital Management LLC now owns 449,848 shares of the company's stock valued at $7,575,000 after buying an additional 126,894 shares during the period. Nuveen Asset Management LLC boosted its position in Byrna Technologies by 1,039.5% during the fourth quarter. Nuveen Asset Management LLC now owns 266,239 shares of the company's stock valued at $7,670,000 after buying an additional 242,875 shares during the period. Nuveen LLC purchased a new stake in Byrna Technologies during the first quarter valued at about $3,890,000. Northern Trust Corp boosted its position in Byrna Technologies by 6.4% during the fourth quarter. Northern Trust Corp now owns 149,157 shares of the company's stock valued at $4,297,000 after buying an additional 9,031 shares during the period. Finally, McCollum Christoferson Group LLC boosted its position in Byrna Technologies by 1.7% during the first quarter. McCollum Christoferson Group LLC now owns 95,925 shares of the company's stock valued at $1,615,000 after buying an additional 1,605 shares during the period. 25.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BYRN has been the subject of several analyst reports. B. Riley restated a "buy" rating and set a $46.00 price target (up from $39.00) on shares of Byrna Technologies in a research report on Friday, July 11th. Craig Hallum started coverage on shares of Byrna Technologies in a report on Wednesday, July 16th. They set a "buy" rating and a $39.00 target price for the company. Roth Capital increased their target price on shares of Byrna Technologies from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Wolfe Research upgraded shares of Byrna Technologies to a "strong-buy" rating in a report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $38.75.

Byrna Technologies Price Performance

BYRN stock traded up $0.06 during trading on Monday, reaching $20.03. The company had a trading volume of 328,196 shares, compared to its average volume of 469,978. Byrna Technologies Inc. has a 52 week low of $13.10 and a 52 week high of $34.78. The company has a market cap of $454.68 million, a P/E ratio of 32.31 and a beta of 2.02. The business has a 50 day moving average of $21.57 and a 200 day moving average of $22.94.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last announced its earnings results on Thursday, July 10th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.05. Byrna Technologies had a net margin of 14.28% and a return on equity of 16.96%. The business had revenue of $28.51 million during the quarter, compared to the consensus estimate of $28.47 million. Research analysts expect that Byrna Technologies Inc. will post 0.28 earnings per share for the current year.

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.