Byrna Technologies (NASDAQ:BYRN) Sets New 1-Year High on Strong Earnings

Shares of Byrna Technologies Inc. (NASDAQ:BYRN) hit a new 52-week high on Monday following a stronger than expected earnings report. The stock traded as high as $33.94 and last traded at $31.61, with a volume of 204497 shares changing hands. The stock had previously closed at $29.64.

The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. Byrna Technologies had a net margin of 3.12% and a return on equity of 5.58%.

Analyst Ratings Changes

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $20.00 target price on shares of Byrna Technologies in a report on Wednesday, October 30th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Byrna Technologies has a consensus rating of “Buy” and an average price target of $17.75.

Hedge Funds Weigh In On Byrna Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in BYRN. Sound View Wealth Advisors Group LLC raised its position in Byrna Technologies by 0.3% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 106,735 shares of the company’s stock worth $3,075,000 after acquiring an additional 355 shares in the last quarter. Walleye Capital LLC boosted its stake in shares of Byrna Technologies by 1.3% during the third quarter. Walleye Capital LLC now owns 52,379 shares of the company’s stock valued at $889,000 after acquiring an additional 665 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Byrna Technologies during the fourth quarter valued at $30,000. NCP Inc. acquired a new stake in shares of Byrna Technologies during the fourth quarter valued at $37,000. Finally, nVerses Capital LLC acquired a new stake in Byrna Technologies in the 3rd quarter worth about $34,000. 25.46% of the stock is owned by institutional investors and hedge funds.

Byrna Technologies Trading Up 10.3 %

The business has a 50 day simple moving average of $27.11 and a 200-day simple moving average of $19.05. The stock has a market capitalization of $744.09 million, a price-to-earnings ratio of 365.16 and a beta of 1.65.

About Byrna Technologies

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.