Byrna Technologies (NASDAQ:BYRN) Trading 5.1% Higher – Here’s What Happened

Byrna Technologies Inc. (NASDAQ:BYRN)’s stock price was up 5.1% during mid-day trading on Wednesday . The company traded as high as $23.29 and last traded at $22.85. Approximately 72,690 shares changed hands during trading, a decline of 78% from the average daily volume of 332,339 shares. The stock had previously closed at $21.74.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Roth Mkm reaffirmed a “buy” rating and set a $20.00 price target on shares of Byrna Technologies in a research report on Wednesday, October 30th. Roth Capital upgraded shares of Byrna Technologies to a “strong-buy” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $17.75.

Byrna Technologies Stock Performance

The stock has a market capitalization of $564.68 million, a PE ratio of 275.70 and a beta of 1.80. The business’s 50-day moving average is $17.63 and its two-hundred day moving average is $13.79.

Byrna Technologies (NASDAQ:BYRN) last issued its earnings results on Wednesday, October 9th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05. Byrna Technologies had a net margin of 3.12% and a return on equity of 5.58%. The business had revenue of $20.85 million for the quarter, compared to the consensus estimate of $20.82 million. Equities analysts forecast that Byrna Technologies Inc. will post 0.19 EPS for the current year.

Insider Transactions at Byrna Technologies

In related news, insider Lisa Wager sold 2,450 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $17.01, for a total transaction of $41,674.50. Following the sale, the insider now owns 224,555 shares of the company’s stock, valued at approximately $3,819,680.55. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Laurilee Kearnes bought 2,000 shares of the stock in a transaction on Thursday, October 10th. The shares were bought at an average price of $14.04 per share, for a total transaction of $28,080.00. Following the completion of the transaction, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $35,100. This trade represents a 400.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 10,424 shares of company stock valued at $183,104. Corporate insiders own 11.08% of the company’s stock.

Institutional Investors Weigh In On Byrna Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC increased its stake in Byrna Technologies by 145.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 76,202 shares of the company’s stock valued at $760,000 after purchasing an additional 45,118 shares in the last quarter. FMR LLC increased its position in shares of Byrna Technologies by 47.9% in the third quarter. FMR LLC now owns 1,694,610 shares of the company’s stock valued at $28,758,000 after buying an additional 548,670 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Byrna Technologies during the 2nd quarter worth $408,000. Bank of New York Mellon Corp boosted its position in shares of Byrna Technologies by 68.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 146,607 shares of the company’s stock worth $1,463,000 after buying an additional 59,738 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of Byrna Technologies by 86.6% in the 3rd quarter. GSA Capital Partners LLP now owns 59,608 shares of the company’s stock worth $1,012,000 after buying an additional 27,662 shares in the last quarter. 25.46% of the stock is currently owned by institutional investors and hedge funds.

Byrna Technologies Company Profile

Byrna Technologies Inc, a non-lethal defense technology company, provides non-lethal alternative solutions for law enforcement and private security. The company offers handheld personal security devices and shoulder-fired launchers without the need for background check or firearm license; and projectiles including chemical irritant, kinetic, and inert rounds.