Byrna Technologies Inc. (NASDAQ:BYRN) Stock Holdings Lifted by Malaga Cove Capital LLC

Key Points

• Malaga Cove Capital LLC significantly increased its stake in Byrna Technologies, acquiring an additional 35,976 shares, raising ownership by 438.7% for a total of approximately 44,176 shares valued at $744,000.
• Research reports from analysts show a positive outlook for Byrna Technologies, with multiple firms assigning a buy rating and raising price targets, including B. Riley which set a new target of $46.00.
• Byrna Technologies reported earnings of $0.10 per share, exceeding consensus estimates, with revenue of $28.505 million for the quarter, showcasing strong financial performance.

Malaga Cove Capital LLC grew its position in Byrna Technologies Inc. (NASDAQ:BYRN - Free Report) by 438.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,176 shares of the company's stock after purchasing an additional 35,976 shares during the period. Malaga Cove Capital LLC owned approximately 0.19% of Byrna Technologies worth $744,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BYRN. Vanguard Group Inc. increased its holdings in shares of Byrna Technologies by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 1,001,759 shares of the company's stock valued at $28,861,000 after acquiring an additional 73,954 shares during the last quarter. JPMorgan Chase & Co. increased 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 acquiring an additional 484 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Byrna Technologies by 248.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 90,632 shares of the company's stock valued at $2,611,000 after acquiring an additional 64,593 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Byrna Technologies in the 4th quarter valued at approximately $293,000. Finally, Geode Capital Management LLC increased its holdings in shares of Byrna Technologies by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 396,616 shares of the company's stock valued at $11,430,000 after acquiring an additional 5,184 shares during the last quarter. 25.46% of the stock is currently owned by hedge funds and other institutional investors.

Byrna Technologies Trading Up 2.5%

Shares of Byrna Technologies stock traded up $0.54 on Monday, reaching $21.86. 353,064 shares of the company were exchanged, compared to its average volume of 910,962. The firm has a market capitalization of $496.22 million, a price-to-earnings ratio of 35.26 and a beta of 2.07. Byrna Technologies Inc. has a fifty-two week low of $7.79 and a fifty-two week high of $34.78. The stock has a fifty day moving average price of $27.42 and a 200-day moving average price of $24.96.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.07. Byrna Technologies had a return on equity of 16.96% and a net margin of 14.28%. The firm had revenue of $28,505 billion for the quarter, compared to analyst estimates of $28.47 million. On average, equities analysts anticipate that Byrna Technologies Inc. will post 0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BYRN. Wolfe Research upgraded Byrna Technologies to a "strong-buy" rating in a report on Friday, June 6th. B. Riley restated a "buy" rating and set a $46.00 price objective (up previously from $39.00) on shares of Byrna Technologies in a research report on Friday, July 11th. Roth Capital boosted their price target on Byrna Technologies from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Craig Hallum assumed coverage on Byrna Technologies in a research report on Wednesday, July 16th. They set a "buy" rating and a $39.00 price target for the company. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target 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.