Byrna Technologies (NASDAQ:BYRN) Director Acquires $29,584.50 in Stock

Byrna Technologies Inc. (NASDAQ:BYRN) Director Chris Lavern Reed purchased 8,150 shares of the stock in a transaction dated Friday, July 24th. The shares were bought at an average cost of $3.63 per share, for a total transaction of $29,584.50. Following the completion of the purchase, the director owned 61,720 shares in the company, valued at approximately $224,043.60. This trade represents a 15.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Byrna Technologies Stock Down 3.9%

Shares of NASDAQ BYRN traded down $0.16 during midday trading on Tuesday, hitting $3.97. The company had a trading volume of 2,481,412 shares, compared to its average volume of 627,228. Byrna Technologies Inc. has a twelve month low of $3.16 and a twelve month high of $30.62. The business has a 50-day simple moving average of $5.41 and a two-hundred day simple moving average of $8.84. The firm has a market capitalization of $90.09 million, a price-to-earnings ratio of -22.06 and a beta of 1.80.

Byrna Technologies (NASDAQ:BYRN) last issued its 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). 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. On average, equities analysts forecast that Byrna Technologies Inc. will post -0.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Roth Capital cut Byrna Technologies from a “buy” rating to a “neutral” rating and set a $4.50 price target on the stock. in a report on Friday, July 10th. B. Riley Financial decreased their target price on Byrna Technologies from $21.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. New Street Research set a $7.50 target price on Byrna Technologies in a report on Friday, April 10th. Zacks Research lowered Byrna Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen downgraded Byrna Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $7.88.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BYRN. Millennium Management LLC lifted its holdings in Byrna Technologies by 228.0% in the 3rd quarter. Millennium Management LLC now owns 673,138 shares of the company’s stock valued at $14,917,000 after purchasing an additional 467,932 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of Byrna Technologies during the second quarter worth about $13,079,000. AIGH Capital Management LLC purchased a new stake in shares of Byrna Technologies during the fourth quarter worth about $6,630,000. Pinnacle Associates Ltd. raised its position in shares of Byrna Technologies by 401.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 438,292 shares of the company’s stock valued at $7,359,000 after buying an additional 350,861 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Byrna Technologies by 496.5% in the first quarter. Renaissance Technologies LLC now owns 382,327 shares of the company’s stock valued at $3,510,000 after buying an additional 318,227 shares during the last quarter. Institutional investors and hedge funds own 25.46% of the company’s stock.

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.