Sierra Summit Advisors LLC Makes New Investment in Byrna Technologies Inc. (NASDAQ:BYRN)

Key Points

• Sierra Summit Advisors LLC has acquired 28,130 shares of Byrna Technologies Inc., valued at approximately $474,000, marking a new investment for the firm.
• Byrna Technologies recently reported an earnings per share of $0.10, exceeding the consensus estimate of $0.03, with analysts projecting a 0.28 EPS for the current year.
• A number of analysts have issued a "buy" rating for Byrna Technologies, with price targets ranging from $37.00 to $46.00, indicating a positive outlook for the company's stock.

Sierra Summit Advisors LLC acquired a new position in shares of Byrna Technologies Inc. (NASDAQ:BYRN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 28,130 shares of the company's stock, valued at approximately $474,000. Sierra Summit Advisors LLC owned 0.12% of Byrna Technologies at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BYRN. Vanguard Group Inc. increased its stake in Byrna Technologies by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 1,001,759 shares of the company's stock worth $28,861,000 after purchasing an additional 73,954 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Byrna Technologies by 6.3% during 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 in the last quarter. Franklin Resources Inc. bought a new stake in Byrna Technologies during the 4th quarter worth approximately $293,000. Geode Capital Management LLC increased its stake in Byrna Technologies by 1.3% during 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 in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Byrna Technologies by 17.9% during 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 in the last quarter. 25.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wolfe Research raised Byrna Technologies to a "strong-buy" rating in a research note on Friday, June 6th. 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. Roth Capital upped 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, B. Riley reaffirmed a "buy" rating and set a $46.00 price target (up previously from $39.00) on shares of Byrna Technologies in a research report on Friday, July 11th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $38.75.

Byrna Technologies Price Performance

NASDAQ:BYRN traded down $0.44 during trading hours on Tuesday, reaching $20.95. 391,817 shares of the stock were exchanged, compared to its average volume of 591,222. Byrna Technologies Inc. has a twelve month low of $9.92 and a twelve month high of $34.78. The firm has a 50 day moving average of $26.77 and a 200 day moving average of $24.55. The stock has a market cap of $475.57 million, a PE ratio of 33.79 and a beta of 2.07.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last released its quarterly earnings data on Thursday, July 10th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. The company had revenue of $28,505 billion during the quarter, compared to the consensus estimate of $28.47 million. Byrna Technologies had a return on equity of 16.96% and a net margin of 14.28%. Equities research analysts anticipate that Byrna Technologies Inc. will post 0.28 earnings per share 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.