Analysts Set Byrna Technologies Inc. (NASDAQ:BYRN) Price Target at $12.13

Shares of Byrna Technologies Inc. (NASDAQ:BYRN) have been given an average recommendation of “Buy” by the six brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $12.1250.

Several brokerages recently commented on BYRN. B. Riley Financial cut their price objective on shares of Byrna Technologies from $31.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Wall Street Zen downgraded shares of Byrna Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Roth Mkm cut their price objective on shares of Byrna Technologies from $26.00 to $12.50 and set a “buy” rating on the stock in a research report on Friday, April 10th. New Street Research set a $7.50 price objective on shares of Byrna Technologies in a research report on Friday, April 10th. Finally, Texas Capital raised shares of Byrna Technologies to a “strong-buy” rating in a research report on Tuesday, March 24th.

Byrna Technologies Price Performance

NASDAQ:BYRN opened at $5.66 on Wednesday. The firm’s 50-day moving average price is $6.08 and its 200-day moving average price is $11.45. The company has a market capitalization of $128.43 million, a PE ratio of 15.72 and a beta of 1.81. Byrna Technologies has a 1-year low of $4.84 and a 1-year high of $34.30.

Byrna Technologies (NASDAQ:BYRN) last released its earnings results on Thursday, April 9th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The business had revenue of $29.05 million during the quarter, compared to analysts’ expectations of $30.21 million. Byrna Technologies had a return on equity of 14.14% and a net margin of 7.30%.During the same period in the prior year, the company earned $0.07 earnings per share. Equities analysts anticipate that Byrna Technologies will post 0.03 EPS for the current fiscal year.

Institutional Trading of Byrna Technologies

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC lifted its stake in Byrna Technologies by 228.0% during the 3rd quarter. Millennium Management LLC now owns 673,138 shares of the company’s stock valued at $14,917,000 after acquiring an additional 467,932 shares during the period. Invesco Ltd. bought a new position in Byrna Technologies during the 2nd quarter valued at about $13,079,000. AIGH Capital Management LLC bought a new position in Byrna Technologies during the 4th quarter valued at about $6,630,000. Pinnacle Associates Ltd. lifted its stake in Byrna Technologies by 401.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 438,292 shares of the company’s stock valued at $7,359,000 after acquiring an additional 350,861 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Byrna Technologies by 496.5% during the 1st quarter. Renaissance Technologies LLC now owns 382,327 shares of the company’s stock valued at $3,510,000 after acquiring an additional 318,227 shares during the period. 25.46% of the stock is owned by hedge funds and other 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.