Insider Buying: Byrna Technologies (NASDAQ:BYRN) CEO Buys $64,937.28 in Stock

Key Points

• CEO Conn Davis purchased 18,768 Byrna Technologies shares at an average price of $3.46, investing $64,937.28 and establishing a direct ownership position of the same size.
• BYRN shares fell 4.5% to $3.94, trading well below their 50-day and 200-day moving averages. The company recently reported a quarterly loss of $0.44 per share and revenue of $16.39 million, missing analyst expectations on both measures.
• Analyst sentiment remains mixed, with a consensus “Moderate Buy” rating and an average price target of $7.88, while institutional investors own 25.46% of the stock.

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) CEO Conn Davis acquired 18,768 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were bought at an average price of $3.46 per share, with a total value of $64,937.28. Following the completion of the purchase, the chief executive officer directly owned 18,768 shares of the company's stock, valued at approximately $64,937.28. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Byrna Technologies Trading Down 4.5%

Shares of BYRN stock traded down $0.18 during mid-day trading on Tuesday, reaching $3.94. The stock had a trading volume of 1,717,531 shares, compared to its average volume of 621,319. The business's fifty day moving average is $5.41 and its 200-day moving average is $8.84. The firm has a market cap of $89.52 million, a price-to-earnings ratio of -21.92 and a beta of 1.80. Byrna Technologies Inc. has a 1-year low of $3.16 and a 1-year high of $30.62.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last released its quarterly earnings data on Thursday, July 9th. The company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.34). Byrna Technologies had a negative net margin of 3.39% and a negative return on equity of 5.85%. The company had revenue of $16.39 million for the quarter, compared to analysts' expectations of $22.32 million. On average, analysts forecast that Byrna Technologies Inc. will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BYRN. State Street Corp increased its holdings in Byrna Technologies by 5.8% during the 4th quarter. State Street Corp now owns 987,936 shares of the company's stock valued at $16,587,000 after acquiring an additional 54,555 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Byrna Technologies by 32.7% in the fourth quarter. Millennium Management LLC now owns 893,268 shares of the company's stock valued at $14,998,000 after purchasing an additional 220,130 shares in the last quarter. UBS Group AG grew its position in shares of Byrna Technologies by 35.8% in the fourth quarter. UBS Group AG now owns 520,616 shares of the company's stock valued at $8,741,000 after purchasing an additional 137,260 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Byrna Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 440,843 shares of the company's stock valued at $7,403,000 after purchasing an additional 1,126 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in shares of Byrna Technologies by 401.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 438,292 shares of the company's stock worth $7,359,000 after purchasing an additional 350,861 shares in the last quarter. Institutional investors and hedge funds own 25.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on BYRN. New Street Research set a $7.50 price objective on shares of Byrna Technologies in a report on Friday, April 10th. Roth Capital cut shares of Byrna Technologies from a "buy" rating to a "neutral" rating and set a $4.50 price target for the company. in a research report on Friday, July 10th. Craig Hallum downgraded Byrna Technologies from a "buy" rating to a "hold" rating and set a $7.50 target price for the company. in a research report on Friday, April 10th. B. Riley Financial cut their price objective on Byrna Technologies from $21.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, Wall Street Zen cut shares of Byrna Technologies from a "sell" rating to a "strong sell" rating in a report on Sunday, July 12th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $7.88.

Byrna Technologies Company Profile

Byrna Technologies, Inc NASDAQ: BYRN designs, develops and markets non-lethal personal security devices and accessories intended to provide an alternative to traditional firearms. The company's flagship offerings deploy impact projectiles and chemical irritants in a compact, pistol-style form factor. Its product portfolio includes the Byrna SD and Byrna HD launchers, which utilize proprietary kinetic and irritant cartridges, as well as the lightweight Byrna Air, a CO₂-powered variant optimized for close-quarters defense.

In addition to its core self-defense launchers, Byrna Technologies supplies a range of consumables and support products, including cartridges loaded with pepper-based irritants, inert training rounds, holsters, safe-carry cases and speed loaders.

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