Insider Buying: Byrna Technologies (NASDAQ:BYRN) Director Purchases $46,400.00 in Stock

Key Points

• Byrna Technologies director Leonard Elmore bought 10,000 shares at an average price of $4.64, investing $46,400 and increasing his direct ownership by 19.68% to 60,811 shares.
• Byrna’s latest quarterly results missed expectations, with a loss of $0.44 per share versus a projected loss of $0.10 and revenue of $16.39 million versus estimates of $22.32 million.
• Analyst opinions are mixed, but the stock has an overall “Moderate Buy” consensus and an average price target of $7.88; shares recently opened at $4.45, well below their 52-week high of $30.62.

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) Director Leonard Elmore acquired 10,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was purchased at an average cost of $4.64 per share, with a total value of $46,400.00. Following the purchase, the director directly owned 60,811 shares of the company's stock, valued at $282,163.04. This trade represents a 19.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Byrna Technologies Price Performance

NASDAQ:BYRN opened at $4.45 on Monday. The firm's 50 day simple moving average is $5.19 and its 200 day simple moving average is $8.03. The company has a market cap of $100.97 million, a PE ratio of -24.72 and a beta of 1.83. Byrna Technologies Inc. has a one year low of $3.16 and a one year high of $30.62.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last issued its quarterly earnings results on Thursday, July 9th. The company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.34). Byrna Technologies had a negative return on equity of 5.85% and a negative net margin of 3.39%.The business had revenue of $16.39 million for the quarter, compared to analyst estimates of $22.32 million. Equities research analysts expect that Byrna Technologies Inc. will post -0.63 EPS for the current year.

Analysts Set New Price Targets

BYRN has been the subject of several recent research reports. Zacks Research cut Byrna Technologies from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 14th. Roth Capital cut Byrna Technologies from a "buy" rating to a "neutral" rating and set a $4.50 target price on the stock. in a report on Friday, July 10th. B. Riley Financial decreased their target price on shares of Byrna Technologies from $21.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Finally, Wall Street Zen lowered shares of Byrna Technologies from a "sell" rating to a "strong sell" rating in a research note on Sunday, July 12th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $7.88.

Hedge Funds Weigh In On Byrna Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank bought a new stake in shares of Byrna Technologies in the 4th quarter valued at $40,000. NBC Securities Inc. grew its holdings in Byrna Technologies by 226.4% in the fourth quarter. NBC Securities Inc. now owns 2,611 shares of the company's stock worth $44,000 after purchasing an additional 1,811 shares during the period. Russell Investments Group Ltd. increased its stake in Byrna Technologies by 89.6% in the third quarter. Russell Investments Group Ltd. now owns 2,215 shares of the company's stock valued at $49,000 after purchasing an additional 1,047 shares in the last quarter. Quarry LP bought a new stake in Byrna Technologies in the third quarter valued at $70,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Byrna Technologies during the second quarter valued at about $86,000. 25.46% of the stock is currently owned by institutional investors.

About Byrna Technologies

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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