Short Interest in Byrna Technologies Inc. (NASDAQ:BYRN) Grows By 9.6%

Byrna Technologies Inc. (NASDAQ:BYRN) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 2,740,000 shares, a growth of 9.6% from the October 31st total of 2,500,000 shares. Based on an average daily volume of 583,800 shares, the short-interest ratio is presently 4.7 days. Approximately 15.8% of the company’s shares are short sold.

Analyst Ratings Changes

Several research analysts have recently issued reports on BYRN shares. Roth Capital raised Byrna Technologies to a “strong-buy” rating in a research report on Wednesday, August 28th. Roth Mkm reiterated a “buy” rating and issued a $20.00 price objective on shares of Byrna Technologies in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Byrna Technologies currently has an average rating of “Buy” and a consensus price target of $17.75.

Byrna Technologies Stock Down 5.2 %

Shares of NASDAQ BYRN traded down $1.00 on Monday, reaching $18.33. 520,253 shares of the company’s stock traded hands, compared to its average volume of 329,881. The business’s 50 day simple moving average is $17.06 and its two-hundred day simple moving average is $13.25. Byrna Technologies has a 12 month low of $5.11 and a 12 month high of $22.12. The company has a market cap of $417.15 million, a price-to-earnings ratio of 206.44 and a beta of 1.72.

Byrna Technologies (NASDAQ:BYRN) last posted its quarterly earnings data on Wednesday, October 9th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. Byrna Technologies had a return on equity of 5.58% and a net margin of 3.12%. The company had revenue of $20.85 million during the quarter, compared to analyst estimates of $20.82 million. Analysts forecast that Byrna Technologies will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Byrna Technologies

In related news, CFO Laurilee Kearnes acquired 2,000 shares of Byrna Technologies stock in a transaction on Thursday, October 10th. The shares were acquired at an average cost of $14.04 per share, with a total value of $28,080.00. Following the transaction, the chief financial officer now owns 2,500 shares in the company, valued at $35,100. This trade represents a 400.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Bryan Ganz sold 2,478 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $18.46, for a total transaction of $45,743.88. Following the completion of the sale, the chief executive officer now directly owns 398,059 shares of the company’s stock, valued at approximately $7,348,169.14. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,416 shares of company stock valued at $820,581 in the last 90 days. Insiders own 11.08% of the company’s stock.

Hedge Funds Weigh In On Byrna Technologies

Several large investors have recently modified their holdings of BYRN. nVerses Capital LLC bought a new stake in Byrna Technologies during the 3rd quarter valued at about $34,000. Quest Partners LLC bought a new position in Byrna Technologies during the 3rd quarter valued at about $46,000. Algert Global LLC bought a new stake in shares of Byrna Technologies in the second quarter worth approximately $131,000. MetLife Investment Management LLC raised its holdings in shares of Byrna Technologies by 129.1% during the third quarter. MetLife Investment Management LLC now owns 10,756 shares of the company’s stock valued at $183,000 after purchasing an additional 6,061 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Byrna Technologies by 17.5% during the second quarter. Dimensional Fund Advisors LP now owns 20,016 shares of the company’s stock valued at $200,000 after purchasing an additional 2,976 shares during the period. Hedge funds and other institutional investors own 25.46% of the company’s stock.

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.