Malaga Cove Capital LLC Acquires 35,976 Shares of Byrna Technologies Inc. (NASDAQ:BYRN)

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

A number of other large investors have also added to or reduced their stakes in BYRN. XTX Topco Ltd increased its position in Byrna Technologies by 476.3% during the 1st quarter. XTX Topco Ltd now owns 47,154 shares of the company's stock worth $794,000 after buying an additional 38,972 shares during the period. Federated Hermes Inc. increased its position in Byrna Technologies by 7,894.6% during the 1st quarter. Federated Hermes Inc. now owns 16,149 shares of the company's stock worth $272,000 after buying an additional 15,947 shares during the period. McCollum Christoferson Group LLC increased its position in Byrna Technologies by 1.7% during the 1st quarter. McCollum Christoferson Group LLC now owns 95,925 shares of the company's stock worth $1,615,000 after buying an additional 1,605 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Byrna Technologies during the 1st quarter worth $359,000. Finally, Alps Advisors Inc. acquired a new stake in shares of Byrna Technologies during the 1st quarter worth $313,000. Institutional investors own 25.46% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. B. Riley reissued a "buy" rating and set a $46.00 target price (up from $39.00) on shares of Byrna Technologies in a report on Friday, July 11th. Craig Hallum began coverage on Byrna Technologies in a research note on Wednesday, July 16th. They issued a "buy" rating and a $39.00 price objective on the stock. Wolfe Research raised Byrna Technologies to a "strong-buy" rating in a research note on Friday, June 6th. Finally, Roth Capital lifted their price target on Byrna Technologies from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Byrna Technologies presently has an average rating of "Buy" and a consensus price target of $38.75.

Byrna Technologies Stock Performance

Shares of BYRN traded down $1.23 during mid-day trading on Wednesday, reaching $20.98. 600,878 shares of the company were exchanged, compared to its average volume of 600,148. The stock has a market capitalization of $476.25 million, a PE ratio of 33.84 and a beta of 2.07. The business has a 50 day simple moving average of $27.31 and a two-hundred day simple moving average of $24.88. Byrna Technologies Inc. has a 52 week low of $8.42 and a 52 week high of $34.78.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $28.47 million. On average, analysts predict that Byrna Technologies Inc. will post 0.28 EPS 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.