Byrna Technologies Inc. $BYRN Stock Holdings Increased by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management increased its position in Byrna Technologies by 39.3%, owning approximately 1.98% of the company's stock valued at $7.57 million after acquiring additional shares.
• Byrna Technologies reported $0.10 EPS for the quarter, exceeding estimates, with a net margin of 14.28% and revenue slightly above expectations at $28.51 million.
• Analysts are optimistic about Byrna's growth, with a consensus rating of "Buy" and a target price of $38.75.

Driehaus Capital Management LLC raised its holdings in shares of Byrna Technologies Inc. (NASDAQ:BYRN - Free Report) by 39.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 449,848 shares of the company's stock after purchasing an additional 126,894 shares during the quarter. Driehaus Capital Management LLC owned 1.98% of Byrna Technologies worth $7,575,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Byrna Technologies during the fourth quarter worth approximately $25,000. AlphaQuest LLC boosted its stake in Byrna Technologies by 1,772.2% during the 1st quarter. AlphaQuest LLC now owns 1,816 shares of the company's stock valued at $31,000 after acquiring an additional 1,719 shares during the last quarter. Summit Securities Group LLC acquired a new position in Byrna Technologies during the 1st quarter worth $32,000. BNP Paribas Financial Markets bought a new stake in shares of Byrna Technologies in the 4th quarter worth about $65,000. Finally, Gen Wealth Partners Inc acquired a new stake in shares of Byrna Technologies in the 4th quarter valued at about $115,000. 25.46% of the stock is owned by institutional investors and hedge funds.

Byrna Technologies Trading Down 3.2%

BYRN traded down $0.64 during trading on Thursday, reaching $19.67. 740,191 shares of the company were exchanged, compared to its average volume of 581,624. Byrna Technologies Inc. has a 52 week low of $13.10 and a 52 week high of $34.78. The firm has a 50 day moving average of $23.49 and a 200 day moving average of $23.50. The stock has a market cap of $446.51 million, a P/E ratio of 31.83 and a beta of 2.02.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. The company had revenue of $28.51 million during 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%. As a group, analysts forecast that Byrna Technologies Inc. will post 0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BYRN shares. B. Riley reissued a "buy" rating and issued a $46.00 price objective (up from $39.00) on shares of Byrna Technologies in a report on Friday, July 11th. Wolfe Research upgraded Byrna Technologies to a "strong-buy" rating in a research report on Friday, June 6th. Craig Hallum initiated coverage on Byrna Technologies in a research report on Wednesday, July 16th. They set a "buy" rating and a $39.00 price target on the stock. Finally, Roth Capital raised their price objective on Byrna Technologies from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $38.75.

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.