Byrna Technologies Inc. (NASDAQ:BYRN) Stock Rated “Moderate Buy” by Wall Street Brokerages

Byrna Technologies Inc. (NASDAQ:BYRN) has received an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $6.62.

Several research firms have recently commented on BYRN. B. Riley Financial lowered their price objective on shares of Byrna Technologies from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Zacks Research upgraded shares of Byrna Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. Craig Hallum reissued a “hold” rating and issued a $3.50 target price on shares of Byrna Technologies in a report on Friday, October 9th. Wall Street Zen raised Byrna Technologies from a “strong sell” rating to a “sell” rating in a report on Saturday, October 10th. Finally, Roth Capital downgraded shares of 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.

Byrna Technologies Price Performance

NASDAQ:BYRN opened at $3.83 on Friday. The business’s 50-day moving average is $4.01 and its two-hundred day moving average is $6.71. The firm has a market capitalization of $89.66 million, a PE ratio of -9.57 and a beta of 1.81. Byrna Technologies has a 12 month low of $3.16 and a 12 month high of $20.69.

Byrna Technologies (NASDAQ:BYRN) last released its quarterly earnings results 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. Byrna Technologies had a negative return on equity of 14.46% and a negative net margin of 9.20%. The company had revenue of $15.30 million during the quarter, compared to the consensus estimate of $16.27 million. Equities analysts anticipate that Byrna Technologies will post -0.65 EPS for the current year.

Insiders Place Their Bets

In related news, Director Adam L. Roth bought 10,000 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were purchased at an average price of $4.77 per share, with a total value of $47,700.00. Following the completion of the purchase, the director owned 19,379 shares of the company’s stock, valued at $92,437.83. This represents a 106.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Byrna Technologies

Large investors have recently modified their holdings of the stock. MGO One Seven LLC raised its stake in shares of Byrna Technologies by 18.9% in the third quarter. MGO One Seven LLC now owns 16,867 shares of the company’s stock worth $55,000 after purchasing an additional 2,684 shares during the last quarter. Byrne Asset Management LLC raised its position in Byrna Technologies by 107.0% during the 3rd quarter. Byrne Asset Management LLC now owns 22,600 shares of the company’s stock valued at $79,000 after purchasing an additional 11,680 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Byrna Technologies in the 2nd quarter valued at about $106,000. Squarepoint Ops LLC grew its holdings in shares of Byrna Technologies by 9.0% during the second quarter. Squarepoint Ops LLC now owns 51,696 shares of the company’s stock valued at $347,000 after buying an additional 4,254 shares during the last quarter. Finally, Corient Private Wealth LP acquired a new stake in shares of Byrna Technologies during the 2nd quarter worth approximately $95,000. Hedge funds and other institutional investors own 25.46% of the company’s stock.

About Byrna Technologies

Byrna Technologies Inc is a developer and manufacturer of non-lethal personal security products. The company’s product portfolio is centered on compact, CO2-powered launchers designed to provide an alternative to traditional firearms for personal protection, home security and professional use.

Byrna offers launchers, projectiles and related accessories, including chemical-irritant, kinetic and training ammunition. Its products are marketed through direct-to-consumer and wholesale channels and are intended for consumers, private security personnel, law enforcement agencies and other professional users.

The company was previously known as Security Devices International before adopting the Byrna Technologies name.