Federated Hermes Inc. Increases Holdings in Byrna Technologies Inc. (NASDAQ:BYRN)

Key Points

• Federated Hermes Inc. significantly increased its stake in Byrna Technologies Inc. by 7,894.6%, owning approximately 16,149 shares valued at $272,000 after buying an additional 15,947 shares in the first quarter.
• Several large investors, including Vanguard Group Inc. and JPMorgan Chase & Co., also expanded their holdings in Byrna Technologies during the last quarter, indicating strong institutional interest.
• Analysts have set new price targets for Byrna Technologies, with Roth Capital raising their target from $33 to $37 and B. Riley updating theirs from $39 to $46, contributing to a consensus rating of "Buy."

Federated Hermes Inc. lifted its position in shares of Byrna Technologies Inc. (NASDAQ:BYRN - Free Report) by 7,894.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,149 shares of the company's stock after buying an additional 15,947 shares during the period. Federated Hermes Inc. owned about 0.07% of Byrna Technologies worth $272,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BYRN. Vanguard Group Inc. raised its holdings in shares of Byrna Technologies by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 1,001,759 shares of the company's stock valued at $28,861,000 after buying an additional 73,954 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Byrna Technologies by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 8,109 shares of the company's stock worth $234,000 after purchasing an additional 484 shares during the period. Franklin Resources Inc. purchased a new position in Byrna Technologies in the 4th quarter worth approximately $293,000. Geode Capital Management LLC increased its stake in Byrna Technologies by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 396,616 shares of the company's stock worth $11,430,000 after purchasing an additional 5,184 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Byrna Technologies by 17.9% in the 4th quarter. Wells Fargo & Company MN now owns 11,180 shares of the company's stock worth $322,000 after purchasing an additional 1,700 shares during the period. 25.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BYRN has been the topic of a number of analyst reports. Roth Capital lifted their price target on Byrna Technologies from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. B. Riley reaffirmed a "buy" rating and issued a $46.00 price target (up from $39.00) on shares of Byrna Technologies in a research note on Friday, July 11th. Wolfe Research raised Byrna Technologies to a "strong-buy" rating in a research note on Friday, June 6th. Finally, Craig Hallum initiated coverage on Byrna Technologies in a research note on Wednesday, July 16th. They issued a "buy" rating and a $39.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $38.75.

Byrna Technologies Stock Performance

Shares of BYRN stock opened at $21.15 on Friday. The firm has a market cap of $480.11 million, a P/E ratio of 34.11 and a beta of 2.07. Byrna Technologies Inc. has a fifty-two week low of $9.78 and a fifty-two week high of $34.78. The business's 50 day moving average price is $27.00 and its 200-day moving average price is $24.70.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.07. The firm had revenue of $28,505 billion for the quarter, compared to analyst estimates of $28.47 million. Byrna Technologies had a return on equity of 16.96% and a net margin of 14.28%. As a group, equities analysts predict 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.

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