Zacks Research Upgrades Byrna Technologies (NASDAQ:BYRN) to Hold

Byrna Technologies (NASDAQ:BYRN) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

Other equities research analysts have also recently issued reports about the company. 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 research note on Friday, July 10th. B. Riley Financial cut their price target on Byrna Technologies from $21.00 to $12.00 and set a “buy” rating on the stock in a 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 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 and three have assigned a Hold rating to the stock. According to MarketBeat.com, Byrna Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.88.

Byrna Technologies Stock Down 1.1%

Shares of NASDAQ BYRN opened at $3.59 on Tuesday. The firm’s 50-day moving average price is $4.16 and its two-hundred day moving average price is $6.39. Byrna Technologies has a 52-week low of $3.16 and a 52-week high of $30.62. The stock has a market capitalization of $84.04 million, a P/E ratio of -19.94 and a beta of 1.76.

Byrna Technologies (NASDAQ:BYRN) last announced its quarterly earnings results 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 return on equity of 5.85% and a negative net margin of 3.39%.The company had revenue of $16.39 million for the quarter, compared to analyst estimates of $22.32 million. As a group, equities research analysts expect that Byrna Technologies will post -0.63 earnings per share for the current year.

Insider Activity at Byrna Technologies

In other Byrna Technologies news, Chairman Tj Kennedy acquired 29,000 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The shares were acquired at an average cost of $3.53 per share, for a total transaction of $102,370.00. Following the completion of the purchase, the chairman owned 29,000 shares of the company’s stock, valued at approximately $102,370. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Leonard J. Elmore purchased 10,000 shares of the business’s stock in a transaction on 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 acquisition, the director owned 60,811 shares in the company, valued at approximately $282,163.04. This represents a 19.68% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 71,258 shares of company stock valued at $261,855. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Byrna Technologies

Institutional investors have recently added to or reduced their stakes in the company. Comerica Bank acquired a new position in Byrna Technologies in the fourth quarter valued at about $40,000. Russell Investments Group Ltd. grew its stake in shares of Byrna Technologies by 89.6% during 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 during the last quarter. Quarry LP acquired a new stake in shares of Byrna Technologies in the 3rd quarter valued at $70,000. Bank of New York Mellon Corp acquired a new stake in Byrna Technologies in the second quarter worth about $86,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Byrna Technologies by 178.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,058 shares of the company’s stock worth $94,000 after buying an additional 1,960 shares during the period. 25.46% of the stock is 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.