Byrna Technologies (NASDAQ:BYRN) Reaches New 1-Year High – Should You Buy?

Byrna Technologies Inc. (NASDAQ:BYRN)’s share price hit a new 52-week high on Monday . The stock traded as high as $30.16 and last traded at $30.16, with a volume of 4145 shares. The stock had previously closed at $29.56.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BYRN shares. Roth Mkm reiterated a “buy” rating and issued a $20.00 target price on shares of Byrna Technologies in a report on Wednesday, October 30th. Roth Capital upgraded shares of Byrna Technologies to a “strong-buy” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $17.75.

Byrna Technologies Price Performance

The company’s fifty day moving average price is $18.96 and its 200 day moving average price is $14.46. The company has a market cap of $651.33 million, a PE ratio of 318.04 and a beta of 1.80.

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

Insiders Place Their Bets

In other news, CFO Laurilee Kearnes bought 2,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was purchased at an average price of $14.04 per share, with a total value of $28,080.00. Following the transaction, the chief financial officer now owns 2,500 shares of the company’s stock, valued at approximately $35,100. The trade was a 400.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bryan Ganz sold 2,478 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $18.46, for a total transaction of $45,743.88. Following the sale, the chief executive officer now directly owns 398,059 shares in the company, valued at $7,348,169.14. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. 11.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Byrna Technologies

Institutional investors have recently modified their holdings of the business. Barclays PLC boosted its stake in shares of Byrna Technologies by 321.5% in the 3rd quarter. Barclays PLC now owns 24,719 shares of the company’s stock worth $419,000 after buying an additional 18,855 shares during the last quarter. State Street Corp grew its position in shares of Byrna Technologies by 36.9% during the 3rd quarter. State Street Corp now owns 314,315 shares of the company’s stock valued at $5,334,000 after acquiring an additional 84,723 shares during the period. Centiva Capital LP bought a new position in Byrna Technologies in the 3rd quarter worth $286,000. Verition Fund Management LLC lifted its position in Byrna Technologies by 113.9% during the third quarter. Verition Fund Management LLC now owns 34,018 shares of the company’s stock valued at $577,000 after purchasing an additional 18,118 shares in the last quarter. Finally, Walleye Capital LLC grew its holdings in Byrna Technologies by 1.3% during the third quarter. Walleye Capital LLC now owns 52,379 shares of the company’s stock valued at $889,000 after purchasing an additional 665 shares during the period. 25.46% of the stock is owned by hedge funds and other institutional investors.

About Byrna Technologies

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.