Byrna Technologies (NASDAQ:BYRN) Lowered to “Strong Sell” Rating by Zacks Research

Byrna Technologies (NASDAQ:BYRN) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently commented on BYRN. Roth Capital downgraded Byrna Technologies from a “buy” rating to a “neutral” rating and set a $4.50 price objective for the company. in a research report on Friday, July 10th. B. Riley Financial decreased their price target on shares of Byrna Technologies from $21.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. New Street Research set a $7.50 price target on shares of Byrna Technologies in a report on Friday, April 10th. Wall Street Zen downgraded shares of Byrna Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday. Finally, Craig Hallum downgraded shares of Byrna Technologies from a “buy” rating to a “hold” rating and set a $7.50 price objective on the stock. in a research report on Friday, April 10th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Byrna Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $7.88.

Byrna Technologies Trading Up 0.8%

NASDAQ:BYRN opened at $3.57 on Tuesday. Byrna Technologies has a 12-month low of $3.51 and a 12-month high of $30.62. The firm has a market cap of $81.01 million, a PE ratio of -19.83 and a beta of 1.80. The stock has a fifty day moving average price of $5.68 and a 200 day moving average price of $9.59.

Byrna Technologies (NASDAQ:BYRN) last issued its quarterly earnings results on Thursday, July 9th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.34). The company had revenue of $16.39 million for the quarter, compared to analysts’ expectations of $22.32 million. Byrna Technologies had a negative return on equity of 5.85% and a negative net margin of 3.39%. Equities analysts forecast that Byrna Technologies will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BYRN. Royal Bank of Canada raised its position in shares of Byrna Technologies by 21.3% during the 1st quarter. Royal Bank of Canada now owns 23,373 shares of the company’s stock worth $393,000 after acquiring an additional 4,108 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Byrna Technologies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,305 shares of the company’s stock worth $174,000 after purchasing an additional 468 shares during the last quarter. Millennium Management LLC boosted its holdings in Byrna Technologies by 247.9% in the first quarter. Millennium Management LLC now owns 326,670 shares of the company’s stock valued at $5,501,000 after purchasing an additional 232,770 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Byrna Technologies in the first quarter valued at approximately $173,000. Finally, Strs Ohio purchased a new position in Byrna Technologies in the first quarter valued at approximately $113,000. Hedge funds and other institutional investors own 25.46% of the company’s stock.

Byrna Technologies Company Profile

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.