Byrna Technologies (NASDAQ:BYRN) Reaches New 52-Week High – Should You Buy?

Shares of Byrna Technologies Inc. (NASDAQ:BYRN) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.50 and last traded at $30.82, with a volume of 193785 shares trading hands. The stock had previously closed at $29.40.

Wall Street Analyst Weigh In

Separately, Roth Mkm restated a “buy” rating and issued a $20.00 price target on shares of Byrna Technologies in a report on Wednesday, October 30th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $17.75.

Byrna Technologies Trading Up 2.8 %

The company has a market capitalization of $728.03 million, a price-to-earnings ratio of 355.48 and a beta of 1.67. The stock has a 50-day simple moving average of $25.14 and a 200-day simple moving average of $17.49.

Institutional Investors Weigh In On Byrna Technologies

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Byrna Technologies by 47.9% in the 3rd quarter. FMR LLC now owns 1,694,610 shares of the company’s stock worth $28,758,000 after buying an additional 548,670 shares in the last quarter. Millennium Management LLC grew its stake in shares of Byrna Technologies by 53.5% in the second quarter. Millennium Management LLC now owns 321,915 shares of the company’s stock worth $3,213,000 after purchasing an additional 112,262 shares in the last quarter. State Street Corp increased its holdings in shares of Byrna Technologies by 36.9% during the third quarter. State Street Corp now owns 314,315 shares of the company’s stock valued at $5,334,000 after purchasing an additional 84,723 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Byrna Technologies during the second quarter valued at about $786,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in Byrna Technologies by 145.1% in the second quarter. Cubist Systematic Strategies LLC now owns 76,202 shares of the company’s stock worth $760,000 after purchasing an additional 45,118 shares during the period. 25.46% of the stock is currently owned by 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.