Insider Buying: Byrna Technologies (NASDAQ:BYRN) Director Buys $47,700.00 in Stock

Key Points

• Director Adam Roth bought 10,000 Byrna Technologies shares at an average price of $4.77, investing $47,700 and more than doubling his direct ownership to 19,379 shares.
• Byrna’s stock recently traded at $4.84, with a market capitalization of approximately $113.3 million. The company exceeded quarterly EPS expectations but reported revenue below consensus and remains unprofitable.
• Analyst sentiment is mixed, though the stock carries a consensus “Moderate Buy” rating and an average price target of $6.62; institutional investors own 25.46% of the shares.

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) Director Adam Roth bought 10,000 shares of the company's stock in a transaction that occurred on Thursday, October 15th. The stock was acquired at an average cost of $4.77 per share, for a total transaction of $47,700.00. Following the acquisition, the director directly owned 19,379 shares of the company's stock, valued at $92,437.83. The trade was a 106.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Byrna Technologies Stock Performance

NASDAQ BYRN traded up $0.06 during trading on Friday, reaching $4.84. 1,648,622 shares of the company's stock were exchanged, compared to its average volume of 602,050. The stock has a market cap of $113.30 million, a P/E ratio of -12.10 and a beta of 1.70. The company has a 50 day moving average price of $3.84 and a two-hundred day moving average price of $5.09. Byrna Technologies Inc. has a 1 year low of $3.16 and a 1 year high of $22.47.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last released its quarterly earnings data on Thursday, October 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.03. The business had revenue of $15.30 million during the quarter, compared to analysts' expectations of $16.27 million. Byrna Technologies had a negative return on equity of 14.46% and a negative net margin of 9.20%. Research analysts forecast that Byrna Technologies Inc. will post -0.65 EPS for the current fiscal year.

Institutional Trading of Byrna Technologies

Large investors have recently bought and sold shares of the business. Demars Financial Group LLC purchased a new position in Byrna Technologies during the 1st quarter worth $112,000. Hsbc Holdings PLC purchased a new stake in shares of Byrna Technologies in the first quarter valued at about $115,000. Bank of New York Mellon Corp acquired a new stake in shares of Byrna Technologies during the second quarter worth about $86,000. Corient Private Wealth LP acquired a new stake in shares of Byrna Technologies during the second quarter worth about $95,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Byrna Technologies during the second quarter worth about $106,000. Institutional investors and hedge funds own 25.46% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on BYRN. Wall Street Zen upgraded Byrna Technologies from a "strong sell" rating to a "sell" rating in a research report on Saturday, October 10th. B. Riley Financial decreased their target price on Byrna Technologies from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Monday. Roth Capital downgraded Byrna Technologies from a "buy" rating to a "neutral" rating and set a $4.50 price target on the stock. in a research note on Friday, July 10th. Craig Hallum restated a "hold" rating and set a $3.50 price target on shares of Byrna Technologies in a research note on Friday, October 9th. Finally, Zacks Research raised Byrna Technologies from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $6.62.

About Byrna Technologies

Byrna Technologies Inc is a personal-security company that develops and sells less-lethal protection products for consumers, security professionals and law enforcement agencies. The company's product portfolio is centered on handheld launchers designed to provide an alternative to conventional firearms for personal protection and other security applications.

Byrna's products include compact launchers, projectiles and related accessories. Its ammunition offerings include chemical-irritant rounds, kinetic-impact rounds and inert training rounds, while its product line also includes replacement parts, holsters, storage products and other accessories.

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