Byrna Technologies Inc. (NASDAQ:BYRN) Receives Consensus Rating of “Buy” from Brokerages

Byrna Technologies Inc. (NASDAQ:BYRN) has earned a consensus rating of “Buy” from the six brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $12.1250.

A number of research analysts have issued reports on the stock. Texas Capital raised shares of Byrna Technologies to a “strong-buy” rating in a research report on Tuesday, March 24th. 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. Wall Street Zen downgraded shares of Byrna Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. B. Riley Financial reduced 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. Finally, New Street Research set a $7.50 target price on shares of Byrna Technologies in a research report on Friday, April 10th.

Byrna Technologies Trading Up 2.3%

Shares of Byrna Technologies stock opened at $6.25 on Wednesday. The company’s fifty day simple moving average is $6.38 and its two-hundred day simple moving average is $11.84. The company has a market cap of $141.81 million, a P/E ratio of 17.36 and a beta of 1.81. Byrna Technologies has a 12-month low of $4.84 and a 12-month high of $34.30.

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

Institutional Trading of Byrna Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arkadios Wealth Advisors purchased a new stake in shares of Byrna Technologies in the 1st quarter worth about $214,000. Maverick Capital Ltd. grew its position in shares of Byrna Technologies by 57.3% in the 1st quarter. Maverick Capital Ltd. now owns 18,430 shares of the company’s stock worth $169,000 after buying an additional 6,715 shares during the period. Quantinno Capital Management LP boosted its stake in Byrna Technologies by 125.7% in the 1st quarter. Quantinno Capital Management LP now owns 43,340 shares of the company’s stock worth $398,000 after purchasing an additional 24,141 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Byrna Technologies by 496.5% in the 1st quarter. Renaissance Technologies LLC now owns 382,327 shares of the company’s stock worth $3,510,000 after purchasing an additional 318,227 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Byrna Technologies by 9.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 289,720 shares of the company’s stock worth $2,659,000 after purchasing an additional 25,188 shares in the last quarter. 25.46% of the stock is owned by hedge funds and other institutional investors.

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.